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25 March 2019

Sayenko Kharenko advises EBRD on synthetic UAH loan facility to Ukreximbank to support small and medium enterprises

Sayenko Kharenko has acted as Ukrainian legal counsel to the European Bank for Reconstruction and Development (EBRD) on providing a dual-tranche UAH-denominated loan equivalent to USD 25 million to JSC “The State Export-Import Bank of Ukraine”. The synthetic local currency loan provides access to UAH loan funds for eligible SME borrowers.

In addition, the transaction contemplates granting of funds for SMEs under the EU4Business initiative supported by European Union (EU) and the Deep and Comprehensive Free Trade Area (DCFTA) between Ukraine and the EU. The grants will be provided as investment incentives aiming to improve technology and production processes of SMEs in line with EU standards.

The EBRD is the largest international financial investor in Ukraine. Since the start of its operations in the country in 1993, the Bank has made a cumulative commitment of almost €12.1 billion across some 400 projects in Ukraine. Ukreximbank is a 100% state-owned bank, one of the major operators in the Ukrainian banking market.

Sayenko Kharenko’s team was led by counsel Igor Lozenko and included associate Vira Pankiv and junior associate Oleksandra Maksymenko.

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