Bank Lviv will receive EUR 20 million from the EBRD to support small and medium-sized businesses in Ukraine

Bank Lviv has secured a loan from the European Bank for Reconstruction and Development (EBRD) to assist small and medium-sized businesses in the Western region of Ukraine. The investment totals EUR 20 million in local currency. The partnership agreement was signed during the International Conference on Ukraine’s Recovery held in Berlin on June 11-12, 2024.

The funds will support businesses that need funding for their development and expansion during a full-scale war. Priority will be given to green projects initiated by companies pursuing energy independence and aiming to impact the environment positively.

“Our Bank is always close to our clients, especially in difficult times. The loan from the EBRD will help finance a business ready to further develop despite all the difficulties and challenges, especially in environmental responsibility,” said Ashot Abraamian, Chairman of the Board of Bank Lviv.

Just a heads up, since the start of the war, the EBRD has invested over EUR 4 billion in Ukraine. In addition to supporting the private sector, the EBRD’s strategic priorities in Ukraine include energy security, critical infrastructure, food security, and trade.

The EBRD strongly condemned the Russian invasion and pledged to stand with Ukraine. In early April 2022, the EBRD Board of Governors voted to indefinitely suspend Russia and Belarus’ access to EBRD financing and technical assistance. The Bank also closed its offices in these two countries. In addition to a resilience package for Ukraine and neighboring countries affected by the war, the EBRD has pledged to help finance Ukraine’s recovery when conditions are right.

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