Sayenko Kharenko Advises Piraeus Bank on USD 20 Million Portfolio Guarantee Agreement with U.S. International Development Finance Corporation

Sayenko Kharenko acted as Ukrainian legal counsel to Piraeus Bank in connection with an agreement with the U.S. International Development Finance Corporation (DFC) on provision of a USD 20 million portfolio guarantee to the bank. The guarantee, covering 80% of the credit risk, will enable Piraeus Bank to extend up to USD 25 million in loans to Ukrainian small and medium-sized enterprises (SMEs).

This initiative aims to enhance access to financing for SMEs, supporting their resilience and development amid the ongoing challenges posed by the war. The agreement highlights the commitment of international financial institutions to fostering Ukraine’s economic recovery and empowering the SME sector.

“The guarantee provided by DFC will enable Piraeus Bank to expand its support to SMEs, which are a crucial sector of the country’s economy. It was a pleasure for us to work with such distinguished financial institutions as Piraeus Bank and DFC on this transaction,” commented Anton Korobeynikov, partner at Sayenko Kharenko.

The Sayenko Kharenko team advising on this transaction was led by partner Anton Korobeynikov and included associate Yevhen Koval.