{"id":6923,"date":"2019-12-20T10:00:39","date_gmt":"2019-12-20T08:00:39","guid":{"rendered":"http:\/\/uul.com.ua\/?p=6923"},"modified":"2020-07-21T10:05:48","modified_gmt":"2020-07-21T07:05:48","slug":"otp-lizyng-i-kredobank-chleny-asotsiatsiyi-lizyngodavtsiv-ukrayiny-staly-uchasnykamy-programy-finansuvannya-financeast-vid-yes","status":"publish","type":"post","link":"https:\/\/uul.com.ua\/en\/2019\/otp-lizyng-i-kredobank-chleny-asotsiatsiyi-lizyngodavtsiv-ukrayiny-staly-uchasnykamy-programy-finansuvannya-financeast-vid-yes\/","title":{"rendered":"OTP Leasing and Ukrgasbank, members of the Ukrainian Union of Lessors became participants in The FinancEast program funded by the European Union"},"content":{"rendered":"

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On December 19, 2019 OTP Leasing<\/a>, the member of Ukrainian Union of Lessors announced about signing agreements on the implementation of FinancEast programme as part of the EU\u2019s EU4Business initiative. This programme is aimed at restarting financing of SMEs in government-controlled areas of Donetsk and Luhansk regions, economic recovery of Donbas and improving its investment attractiveness.<\/p>\n\n\n\n

The FinancEast programme is funded by the European Union, which provided EUR 9.5 million of grant funds through the German Development Bank KfW. It will be implemented by the German-Ukrainian Fund.

\u201cThrough this grant the European Union hopes relaunching sustainable lending and leasing operations in a region where banks were almost not operational anymore since 2014, supporting sustainable economic and social recovery and thereby contributing to peace and reconciliation in Eastern Ukraine,”<\/em> said Frederik Coene, First Counsellor, Head of Operations “Local and Human Development\u201d, Delegation of the European Union to Ukraine<\/strong>.<\/p>\n\n\n\n

Grant resources will be channeled to SMEs as a subsidy of\nup to 50% of the investment costs funded by OTP Leasing, Oschadbank,\nUkrgasbank. Investment projects will be financed through leasing or loans to\npurchase agricultural machinery, equipment and vehicles, installation,\nconstruction or reconstruction of production assets etc. Starting December 20,<\/sup>\nentrepreneurs can apply for a leasing or a loan at the regional branches of financial\npartner institutions.<\/p>\n\n\n\n

Andriy Pavlushin, Director General of OTP Leasing<\/strong> has already announced his intention to finance the leasing of tractors and trucks for the small business of Donbas for EUR 12 million – as the first step of the new initiative.

In addition to OTP Leasing, another member of the Association of Lessors of Ukraine – Ukrgasbank – became a participant of this program.

\u201cToday we start implementing the active phase of the FinancEast program, which will give Donbas entrepreneurs access to a variety of financial instruments, including lending. I am sure, this will improve the financial health of their companies, increase their ability to grow, develop and delight their customers with high-quality goods and services,\u201d<\/em> said Yuriy Heletiy, Deputy Minister of Finance of Ukraine<\/strong>.<\/p>\n\n\n\n

\u201cThe National Bank supports programs helping to restart lending to the Ukrainian economy and businesses in the eastern regions. We are currently witnessing a surge in lending, especially in the small and medium enterprise segment. Demand for loans from SMEs is increasing every year, while the quality of their debt servicing is significantly higher than in other business segments. We believe that this segment will be a driving force in restarting lending and economic development of the country,\u201d<\/em> said Kateryna Rozhkova, First Deputy Governor of the National Bank<\/strong>.

More details about the programme can be found at the website<\/a>.<\/p>\n\n\n\n