Sayenko Kharenko advises IFC on USD 11 million loan to Bank Alliance to support Ukrainian SMEs
Sayenko Kharenko acted as Ukrainian legal counsel to International Finance Corporation (IFC) on approximately USD 11 million loan to Bank Alliance.
The financing will enable Bank Alliance to provide financing to small and medium-sized enterprises across Ukraine with at least 50 per cent of the loan proceeds earmarked for companies in the agricultural sector. IFC’s investment comprises a USD 5 million loan for IFC account and an additional EUR 5 million mobilised from Invest in Visions GmbH IIV Mikrofinanzfonds.
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. In fiscal year 2021, IFC committed a record USD 31.5 billion to private companies and financial institutions in developing countries.
Bank Alliance is a universal bank operating in Ukraine since 1992 with 30 branches in the country’s largest cities.
The Sayenko Kharenko team was led by partner Igor Lozenko and included associate Denis Nakonechnyi and junior associate Oleksandr Motin.