Piraeus Bank has signed an agreement with the U.S. International Development Finance Corporation (DFC) to secure a $20 million portfolio guarantee. This initiative will enable loans of up to $25 million for Ukrainian small and medium-sized enterprise (SMEs) with terms of up to 10 years. The primary focus is on supporting the agricultural sector, which is critical for the country’s economic stability. 

Small and medium enterprises are the backbone of Ukraine’s economy, providing jobs and essential goods and services. Wartime challenges have significantly hindered entrepreneurs' access to credit resources, especially for farmers who have faced damages estimated at over $80 billion. 

Under this agreement, DFC will cover 80% of credit risks, making it much easier for businesses to obtain financing, even in wartime conditions. John Didiuk, Director of International Project Finance at DFC, stated: "This agreement will allow small and medium-sized enterprises in Ukraine, especially in the agricultural sector, to continue their operations and grow even in challenging times. It’s another step toward rebuilding the country’s economy." 

Benefits for SMEs 

• Loan access: Businesses can take out loans for working capital and investment projects with terms of up to 7 years, enhancing the attractiveness of investment initiatives and easing financial burdens. 

• Favorable loan conditions: Competitive terms with more lenient collateral requirements. 

• Support from a stable institution: Backed by Piraeus Bank, which boasts over 100 years of experience and a strong commitment to European values. 

This collaboration underscores Piraeus Bank’s dedication to remaining a key player in Ukraine’s financial market by ensuring businesses have access to quality financing. It represents both immediate support for businesses during challenging times and an investment in a sustainable future, fostering economic recovery and progression toward victory. 

Yannis Kyriakopoulos, Chairman of Piraeus Bank in Ukraine, emphasized: "Our goal is to be a reliable bank to Ukrainian businesses. Despite all challenges, we support farmers in maintaining resilience, promoting food security, and contributing to sustainable economic growth. We are delighted to join DFC in this respect."  

The U.S. International Development Finance Corporation (DFC) is a U.S. government-owned financial institution that collaborates with the private sector to address global challenges. DFC invests in projects that create jobs in sectors such as energy, healthcare, critical infrastructure, telecommunications, small business financing, and women’s entrepreneurship. DFC adheres to strict environmental, human rights, and labor compliance standards. 

For more information about this initiative, please visit your local Piraeus Bank branch or contact your personal manager.