AEQUO advised the European Bank for Reconstruction and Development on a EUR 20,000,000 local currency loan to ProCredit Bank Ukraine

AEQUO acted as Ukrainian law counsel to the European Bank for Reconstruction and Development (EBRD) in connection with a new EUR 20,000,000 loan in local currency to ProCredit Bank Ukraine (PCBU).

PCBU is one of the leading privately-owned banks with foreign capital in Ukraine. EBRD’s funding will support ProCredit Bank’s medium-term lending programme to Ukrainian private businesses, including in critical sectors such as agribusiness, food security and manufacturing.  This loan will enable PCBU to help its small- and medium-sized enterprise (SME) clients address working capital and investment needs, safeguarding livelihoods and sustaining key business activities. The loan will be supported by an interest rate subsidy of up to 10 per cent from the European Union via EU4Business.

As well as supporting firms impacted by Russia's war in Ukraine, the loan will contribute to the resilience of Ukraine's banking sector, since medium-term local-currency funding options remain limited domestically.

“Facilitating access to finance for Ukrainian SMEs is a crucial task for Ukraine's resilience that both EBRD and ProCredit Bank Ukraine are undertaking. We were pleased to have assisted EBRD with this important transaction, helping to carry it out quickly and efficiently”, comments Yulia Kyrpa, executive partner at AEQUO.