EBRD supports more than €53 million of food security loans in Ukraine
The EBRD is boosting food security in wartime Ukraine by issuing risk-sharing instruments to selected local banks and a leasing company that will back more than half the credit risk of newly originated financing provided by them up to a total value of €53.25 million. The share of risk the EBRD takes on with ProCredit Bank, OTP Bank Ukraine and OTP Leasing comes to €30 million.
The EBRD’s risk-sharing instruments enhance local financiers’ capacity to provide access to finance for Ukrainian private companies operating in critical agri-related industries, whether farming or food processing, transport and imports. Russia’s invasion of Ukraine, which began on 24 February, came just ahead of the spring sowing season in this major agricultural economy, which supplies farming produce around the world.