Kyiv, Ukraine (December 12, 2019) – Ukrainian Union of Lessors (UUL) today announced a grant aid from the USAID Financial Sector Transformation Project to strengthen its activities in support of leasing finance. The grant will assist the UUL to further promote leasing as a financing option for small and medium enterprises (SMEs), strengthen its communications and outreach program, and support the professional development of UUL members.
“The Ukrainian Union of Lessors has successfully partnered with the USAID Financial Sector Transformation Project over the last three years in support of developing the leasing industry,” said Marina Masich, Executive Director of Ukrainian Union of Lessors. “Today, leasing is a fast growing provider of finance to SMEs, with estimated revenues of UAH 24 bln in 2019. The grant will help us increase our services to members and strengthen our Association. We appreciate the Project’s confidence in the leasing market and its professional Association.”
“Leasing can provide access to finance to SMEs on advantageous terms. The industry is well placed to support the economy and its recovery,” stated Volodymyr Kuzio, NBFI Team Lead of the USAID Financial Sector Transformation Project. “A strong, self-reliant professional Association will support good market conduct, represent leasing interests in the public forum, and facilitate growth and development of the leasing market,” added he.
The grant funds will support:
- Promoting leasing to SMEs (publications, on-line information, regional events and market fairs);
- Improving the professionalization of market participants through an annual conference, training, the introduction of a lessor certification program, and automated reporting;
- Conducting market research and data analysis of promising industries for leasing in Ukraine, including renewable energy and IT.
The Association first cooperated with the USAID Financial Sector Transformation Project in 2017 on reforms to finance leasing legislation and the promotion of finance leasing to SMEs. From this beginning, the partnership expanded to include 22 regional outreach events for SMEs, an international conference, and professional training for UUL members on vendor finance, risk management, communications, and marketing.
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Association Ukrainian Union of Lessors (UUL) was founded in 2005 as a voluntarily union of professional participants of the leasing market. The nonprofit Association’s primary objective is to promote development of the open and equal-accessible market of operational and financial leasing in Ukraine by co-ordination of enterprises’ activities in order to protected shared interests. Currently, the UUL unites 27 companies, among them leading leasing companies and representatives of contiguous markets. The UUL is the only professional association in the industry, with members representing approximately 80% of Ukraine’s finance lease market. For additional information about UUL, please contact Maryna Masich, CEO, at: +38 (093) 381 51 00; [email protected]. You may also visit its website at: http://uul.com.ua/
USAID is the world’s premier international development agency and a catalytic actor driving development results. USAID has partnered with Ukraine since 1992. USAID’s current strategic priorities include strengthening democracy and good governance, promoting economic development and energy security, improving health care systems, and mitigating the effects of the conflict in the east. For additional information about USAID in Ukraine, please visit its website: http://www.usaid.gov/ukraine or its Facebook page at https://www.facebook.com/USAIDUkraine.
The USAID Financial Sector Transformation Project (October 2016 through December 2020) supports financial sector reform in Ukraine. For more information about the USAID Financial Sector Transformation Project and its activities, please contact the Project’s Communications and Outreach Team at: +38 (044) 237-02-10. You may also visit FST’s information page at: http://www.fst-ua.info/en/ and its Facebook page at: https://www.facebook.com/FSTProject.