The European Investment Bank Group Signs a New Guarantee Agreement with Raiffeisen Bank Ukraine to support SMEs
The European Investment Bank (EIB) and the European Investment Fund (EIF) – together the EIB Group have signed a Guarantee Agreement with Raiffeisen Bank, Ukraine under the EU4Business Guarantee Facility. The agreement aims to strengthen access to finance for small and medium-sized enterprises (SMEs) in Ukraine.
The guarantee will enable the bank to offer more favourable financing conditions, including reduced collateral requirements, thereby strengthening the resilience and continuity of Ukrainian businesses operating under wartime conditions.
Andrew McDowell, Director General of European Investment Bank (EIB) Global, said: “Small and medium-sized enterprises are the backbone of Ukraine’s economy. Through this guarantee, EIB Group helps reduce risk and unlock financing so businesses can continue operating and investing even under extremely difficult conditions.”
Larysa Bondarieva, Deputy Chairman of the Board of Raiffeisen Bank Ukraine, stated: “This agreement demonstrates the strong commitment of EIB and EIF to supporting the Ukrainian SMEs in these critical times, as well as Raiffeisen Bank’s efforts to seek new opportunities to further expand such support. Together, we help businesses continue operations, preserve jobs and investments, despite the challenges of the war”.
Ruslan Spivak, Head of Institutional Clients, Investment Banking and Corporate Strategy Division at Raiffeisen Bank Ukraine, added: “This guarantee strengthens our strategic partnership with the EIB Group and directly supports Ukrainian businesses operating under wartime conditions by improving access to finance at a time when it matters most, while enabling effective risk-sharing between the bank and European institutions in an environment of elevated uncertainty”.
Raiffeisen Bank, Ukraine is the largest privately owned bank in Ukraine and the fourth largest by total assets. The EIB and EIF have cooperated successfully with the Bank since 2018.
The EIB in Ukraine
The European Investment Bank (EIB) Group is the financing arm of the European Union. The EIB has been working in Ukraine since 2007. Following Russia’s full-scale invasion in 2022, the Bank has stepped up its financial support to help strengthen the country’s resilience and rebuild its infrastructure. Since then, the EIB has provided €4 billion in financing for Ukraine. Through its EU for Ukraine (EU4U) Initiative, coupled with its key role in implementing the Ukraine Investment Framework, a dedicated window of the Ukraine Facility, the EIB is strongly committed to accelerating its activities in line with the mandate given by EU leaders, in close cooperation with the European Commission, the European Parliament, Member States and international partners.
The European Investment Fund
The European Investment Fund (EIF), part of the EIB Group, supports micro, small and medium-sized enterprises by improving access to finance through guarantees, equity and microfinance instruments, contributing to innovation, growth and employment across Europe.
