The EBRD is providing fresh funds to develop local currency lending and SME support mechanisms in Ukraine. The use of local currency gives greater comfort to potential borrowers, who will not be exposed to foreign exchange risks.

The EBRD is providing a four-year local currency loan in Hryvnia (UAH) worth US$ 25 million equivalent to PJSC ProCredit Bank Ukraine (PCBU).

For the EBRD this will be one of the first UAH-denominated loans to a commercial bank in Ukraine as well as the first synthetic local currency facility hedged through a cross-currency swap with the TCX fund. This mechanism will allow providing Ukrainian SMEs with lending in local currency.