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The European Bank for Reconstruction and Development and Piraeus Bank Ukraine (PBU) are supporting the development of Ukraine’s small- and medium-sized enterprises (SME) with new financial products designed to reduce project and currency exchange associated risks, the EBRD said in a statement.

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The financing package arranged by the EBRD for PBU includes a local currency loan of up to USD 5 million-equivalent for lending to small businesses, and a EUR 10 mln funding under the Bank’s Risk Sharing Facility.

The EBRD will share the risk on individual loans made by PBU to domestic businesses under the scheme. The Risk Sharing Facility will help increase the size and tenor of loans to SMEs across the country, EBRD says.