The European Investment Bank (EIB) recently announced that it has provided a Ukraine-based bank with €12 million in guarantees to support loans to small- and medium-sized enterprises (SMEs).
These Guarantees are provided under the Deep and Comprehensive Free Trade Area (DCFTA) Initiative East Guarantee Facility, a programme that is part of the EU4Business initiative. The decision was approved last December.
The DCFTA Initiative East aims to strengthen economic development in the countries which have signed an association agreement with the EU – namely Georgia, Moldova and Ukraine – by providing targeted financial and technical support to SMEs there.
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