The European Fund for South-Eastern Europe (EFSE) provides a loan to the Piraeus Bank in hryvnia equivalent in the amount of 12 million euros. This investment will help Piraeus Bank to expand lending to small and medium-sized agricultural enterprises across the country, help rebuild business and the economy in Ukraine in the face of the instability of the economic environment caused by the coronavirus.
Piraeus Bank, a recent partner of ESFE, is a subsidiary of Greece's largest financial group, Piraeus Financial Holdings S.A. In Ukraine, Piraeus Bank focuses on serving the largest SMEs operating in agriculture, manufacturing, trade and manufacturing.
According to the Chairman of the Board of Piraeus Bank in Ukraine Yannis Kyriakopoulos: “Servicing and financing the needs of small and medium-sized businesses is our main strategy. We are proud of the trust that the European Fund for South-Eastern Europe has placed in Piraeus Bank, as well as the quality it has brought to our funding mechanism. We are fully in line with EFSE's mission to promote economic development and prosperity in South-Eastern Europe and the Eastern Neighborhood. "
Klaus Müller, Chairman of the Board of the European Fund for South-Eastern Europe, said: “We are particularly pleased to be partnering with Piraeus Bank to strengthen the financial infrastructure that provides entrepreneurs with a solid foundation in turbulent times. This reinforces EFSE's commitment to promoting national currency lending in Ukraine and, in particular, lending to agricultural enterprises as part of EFSE's mission to promote economic development and prosperity in the regions in which it operates. "
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