The German-Ukrainian Fund (GUF) has provided state-controlled Ukrgasbank (Kyiv) with additional funding in the amount of EUR3.5 million and 23 million UAH for lending to small and medium businesses, the bank said.
According to the report, a relevant agreement with the GUF was signed on December 28, 2016.
Financial resources are given to Ukrgasbank for five years. Their value allows reducing the interest rate for lending to small and medium-sized businesses.
Ukrgasbank in cooperation with the GUF in 2016 issued 129 loans worth more than 120 million UAH.
Ukrgasbank was created in 1993. As of January 2016 the state owned 94.9409% of its shares.
Ukrgasbank ranked fourth among 100 operating banks in the country on October 1, 2016 in terms of assets (57.909 billion UAH), according to the National Bank of Ukraine. (Interfax/Business World Magazine)
