The Black Sea Trade and Development Bank (BSTDB) has extended a Eu2.5mn credit line to ProCredit Bank of Ukraine. This carries a tenor of three years and is for the financing of the micro and SME sector in Ukraine.
The support BSTDB is giving through ProCredit Bank will benefit small enterprises, sole proprietors and entrepreneurs in various parts of the country. This new facility comes in addition of a US$5mn credit line extended by BSTDB in 2003.
ProCredit Bank sees as its mission to promote the best banking practices of micro and small business lending in Ukraine in order to improve access to financing for the dynamic and fast-growing SME sector in the country. The bank’s shareholders include IFC (World Bank group), EBRD, KFW, IMI, WesternNIS Fund, German-Ukrainian Fund.
BSTDB is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. With an authorised capital of SDR1bn (US$1.3bn), the bank supports economic development and regional cooperation by providing financing, guarantees, and equity for projects in public and private sectors in its member countries. BSTDB actively cooperates with micro and small enterprises lending institutions in many of its member countries.