LONDON, Nov 23 (Reuters) – The European Financial institution for Reconstruction and Growth (EBRD) stated on Wednesday it’s going to assist facilitate loans in Ukraine for key industries from agriculture to prescription drugs.
The financial institution will problem risk-sharing devices to native banks Credit score Agricole Ukraine, ProCredit Financial institution, OTP Financial institution Ukraine and leasing firm OTP Leasing geared toward backing up half of the chance of 200 million euros ($206.34 million) in new financing, based on an emailed assertion from the financial institution.
The EBRD will present a 50-million euro assure to help the lending, which can be geared toward sectors equivalent to meals processing, transport and logistics and retail.
“The financial institution’s devoted meals safety package deal envisages supporting 200 million euros of funding this yr in Ukraine,” the assertion added.
The lender, which covers nations stretching from Kazakhstan to Hungary and Tunisia, will commit as much as 3 billion euros to Ukraine over 2022 and 2023 to assist shore up the war-torn nation’s companies and economic system since Russia’s invasion on Feb. 24.
($1 = 0.9693 euros)
Reporting by Jorgelina do Rosario
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