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The U.S. International Development Finance Corporation has launched an initiative to mobilize $250 million to boost access to capital for Ukrainian small- and medium-sized enterprises during the war, CEO Scott Nathan said on Tuesday, according to Reuters.
Ukrainian SMEs have struggled to get access to finance because of security risks that have deterred private investment in Ukraine since Russia's invasion almost a year ago. Ukraine's economy shrank by about one third last year.
Nathan said DFC would provide financing to Ukrainian commercial banks for lending to SMEs.
"I am here in Kyiv today because we are investing now to help keep Ukrainian businesses moving forward despite difficult circumstances. I am convinced that new DFC investments here will mobilize well over $1 billion in private sector capital to support the economy of Ukraine," Nathan said during his second visit to Ukraine in two months.
Some information in this report came from Reuters.
