Sayenko Kharenko advises EBRD on EUR 25 million equivalent loan to ProCredit Bank

Sayenko Kharenko has acted as Ukrainian legal counsel to the European Bank for Reconstruction and Development (EBRD) on providing EUR 25 million equivalent loan to ProCredit Bank.

ProCredit Bank will on-lend the proceeds of the loan to micro, small and medium-sized enterprises (MSMEs) in Ukraine to invest in equipment and technology that meets European Union standards for product quality, health and safety measures as well as environmental protection. At least 70 per cent of the funds will be dedicated to financing green technology.

EBRD is the largest international financial investor in Ukraine. EBRD has made a cumulative commitment of more than EUR 15 billion since the start of its operations in the country in 1993.

ProCredit Bank is a market leader in financing local MSMEs in Ukraine. The bank is a wholly owned subsidiary of ProCredit Holding, based in Germany.

Sayenko Kharenko team was led by partner Igor Lozenko and included associate Denis Nakonechnyi and junior associate Oleksandr Motin.