Latest News

U.S. DFC to mobilise $250 million for Ukraine small businesses

U.S. DFC to mobilise $250 million for Ukraine small businesses By Reuters

Breaking News


Economy 11 minutes ago (Jan 31, 2023 15:55)

© Reuters.

KYIV (Reuters) – The U.S. International Development Finance Corporation has launched an initiative to mobilise $250 million to boost access to capital for Ukrainian small and medium-sized enterprises during the war, CEO Scott Nathan said on Tuesday.

Ukrainian SMEs have struggled to get access to finance because of security risks that have deterred private investment in Ukraine since Russia’s invasion almost a year ago. Ukraine’s economy shrank by about one third last year.

Nathan said DFC would provide financing to Ukrainian commercial banks for lending to SMEs.

“I am here in Kyiv today because we are investing now to help keep Ukrainian businesses moving forward despite difficult circumstances. I am convinced that new DFC investments here will mobilise well over $1 billion in private sector capital to support the economy of Ukraine,” Nathan said during his second visit to Ukraine in two months.

He said DFC would also sign a letter of intent to provide equity financing to Horizon Capital, a private equity firm investing in Ukraine and Moldova, and support expansion of Dobrobut, a network of private hospitals.

Horizon Capital is investing in fast-growing tech and export-oriented companies in Ukraine.

Nathan also visited Ukraine in December, when he announced DFC’s first investment in the country since the start of the war. DFC then provided a $15 million, 10-year loan portfolio guarantee for medium-sized commercial bank Bank Lviv, and also a technical assistance grant to the Ukrainian Catholic University (UCU), one of the few Ukrainian private universities.

Prior to the war, DFC’s exposure to Ukraine stood at $800 million, Nathan said.

U.S. DFC to mobilise $250 million for Ukraine small businesses

Our Apps

Terms And Conditions
Privacy Policy
Risk Warning

© 2007-2023 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

What's your reaction?

In Love
Not Sure

You may also like

More in:Latest News

Leave a reply

Your email address will not be published. Required fields are marked *