2024-03-05 14:00:11

Starting in April, Ukrainian companies will be able to access a credit limit from the British financial institution British International Investment (BII). This was reported by the press service of the Ministry of Economy of Ukraine following a meeting between the First Vice Prime Minister of Ukraine and Minister of Economy Yulia Svyrydenko and British International Investment CEO Nick O’Donoghue.

BII has announced a total limit of up to £250 million for private sector financing in Ukraine through the Co-Investment Platform with the participation of partner financial institutions in Ukraine.

«I am grateful to British International Investment for joining the list of institutions that are ready to support the private sector of Ukraine. Expanding the limit to £250 million is a much-needed support for Ukraine to ensure economic stability and post-war reconstruction. Previously, the BII was not on the map of international financial institutions with which Ukraine works. I am glad that we are discovering new partners, and new partners are discovering Ukraine,» emphasized Svyrydenko.

In addition, agreements were reached to deepen cooperation with other international financial organizations in making joint investments in Ukraine and to strengthen cooperation within the framework of the EBRD-led Joint Investment Platform.

The needs of the Ukrainian private sector for 2024 in terms of industry and commerce alone amount to USD 5.8 billion. Some sources of financing are already available to businesses.

The government, donors, and international financial institutions will provide financial support through grants for business recovery and modernization, partial compensation of interest rates under the 5-7-9% affordable loan program, support for Ukrainian exporters through the Export Credit Agency, war risk insurance programs, incentives for private sector investment, and financing for capital investments and equipment upgrades for domestic enterprises affected by the war.

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