Sayenko Kharenko advises EBRD on up to EUR 70 million synthetic local currency financing to support SMEs in Ukraine

Sayenko Kharenko acted as Ukrainian legal counsel to the European Bank for Reconstruction and Development (EBRD) on providing a synthetic financing in local currency to three Ukrainian banks under the EU4Business initiative, namely:

– EUR 20 million equivalent to ProCredit Bank Ukraine
– EUR 25 million equivalent to Raiffeisen Bank Aval
– USD 25 million equivalent to OTP Bank Ukraine

The funds will be on-lent by these partner banks to small and medium enterprises for investments and working capital purposes.

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

The EBRD is the largest international financial investor in Ukraine. Since the start of its operations there in 1993, the Bank has made a cumulative commitment of almost EUR 13.6 billion through 432 projects in the country.