This agreement will enhance the bank's capabilities to provide loans to Ukrainian enterprises, particularly to representatives of small and medium-sized businesses, according to a statement from the EBRD, as reported by Interfax.
“With the signing of this agreement, Crédit Agricole has become the fourth partner bank of the EBRD in the Non-Financial Risk Sharing Program for Ukraine. Previously, UkrSibbank (BNP Paribas Group), Raiffeisen Bank, and Piraeus Bank joined this program,” the EBRD added.
The European Bank for Reconstruction and Development (EBRD) will cover risks on individual loans under this program, with amounts exceeding the equivalent of €5 million. These loans, which will be provided by Crédit Agricole to corporate clients at all levels, will total up to €50 million. As a result, the Ukrainian bank will be able to use the freed-up capital to engage in more active lending to small and medium-sized enterprises (SMEs).