EIB and Ukreximbank boost local currency SME financing

The European Investment Bank has signed an agreement with the State Export-Import Bank of Ukraine (Ukreximbank) to increase the funding limit of the Deep and Comprehensive Free Trade Area (DCFTA) Support Facility project to €280 million. 

Additional financing, namely a €20 million loan, will be provided via a parallel cross-currency swap in Ukrainian hryvnia and will be on-lent to local private businesses with a focus on SMEs. The operation has been made possible by the EIB’s membership of TCX – the Currency Exchange Fund – which provides long-term local currency and interest rate derivatives in emerging market currencies to its investors and their clients.