OREANDA-NEWS. March 19, 2013. The joint program of JSC Ukreximbank and EIB will provide funding for SMEs, energy efficiency and environment projects.

Vitalii Bilous, Chairman of the Board of Joint Stock Company The State Export-Import Bank of Ukraine (Ukreximbank), and Anton Rop, Vice-President of the European Investment Bank (EIB), signed the Agreement towards expansion of range of financing directions under the joint SMEs and Energy Efficiency/Environment Program launched in December 2012.

Under the program the funds in the amount of EUR100 million will be channeled for SMEs and energy efficiency, environmental investments and other priority projects targeting development of local private sector and socio-economic infrastructure, including transportation, energy and environment, IT and communication technologies, as well as mitigation of and adaptation to climate change.

In accordance with the terms and conditions of the agreement, Ukreximbank will provide long-term loans to SME and Mid-Caps to finance their investments up to respective EUR12.5 million and EUR25 million.

As EIB's Vice-President Anton Rop said, the EIB is committed to helping Ukraine achieve sustained economic growth by providing support to the country's private sector development. “EIB's partnership with Ukreximbank, a systemic bank covering an important role in supporting the local economy, is important to this commitment. This project will provide much needed long-term financing to Ukrainian companies, contribute to the creation of jobs and promote access to finance in the country,” – EIB's Vice-President Anton Rop said.

Chairman of JSC Ukreximbank Vitalii Bilous stressed upon the importance of expansion of range of the agreement financing directions. “The joint program with the European Investment Bank provides for the financial support to the small enterprises’ sector that is strategic for the county’s economy. At the same time, together with our European partner, we are concerned with providing the widest possible range of borrowers with an access to the credit resources. Ukreximbank will endeavor best efforts towards efficient implementation of the bilateral program and subsequent building up of the partnership with the European Investment Bank, which is to be based on Ukreximbank significant experience in financing of the real sector of economy, in cooperation with international financial institutions and Bank’s strong institutional capacity,” – Chairman of JSC Ukreximbank Vitalii Bilous said.