The program of the European Investment Bank is aimed at supporting innovative small and medium business.
This was reported by Member of the Supervisory Board of ProCredit Holding Boryslav Kostadinov while signing the agreement between the European Investment Fund and Procredit Bank, Finclub reports.
The small and medium enterprises (less than 500 employees), which invest in research and innovations, will be able to obtain financing under InnovFin program. The program duration period is 2 years.
“EIB will compensate up to 50% of investment expenses of companies. It is very important that the Ukrainian innovative solutions and their authors can develop in Ukraine”, - Minister of Finance of Ukraine Alexander Danyliuk said.
“We think that for the last two years, within the reforming process in Ukraine, it was done much more than for the previous 23 years. But we also think that you need to speed up and we are ready to share experience of political changes as well as building market economy”, EU Ambassador to Ukraine Hugo Mingarelli said.
The same programs are reportedly already working in eight countries of the Eastern and Western Europe.
On May 9, the guarantee agreement, amounting to EUR 20 mln, was signed by Procredit Group with the European Investment Fund for Greece’s SME financing.
