Key Highlights:
Investment Details: The DGGF, managed by Triple Jump and PwC on behalf of the Dutch government, has invested EUR 4.5 million in the share capital of Bank Lviv. This is the first significant foreign investment in Bank Lviv since the onset of the full-scale war.
Significance for Bank Lviv: This investment represents a major milestone for Bank Lviv, enhancing its ability to support Ukrainian businesses during challenging times. Bank Lviv focuses on small and medium-sized enterprises (SMEs) in the western region of Ukraine.
DGGF Overview: The DGGF is a Dutch public investment fund operating in 73 countries, with investments in over 50 projects and nearly EUR 400 million in capital. Its mission is to support SMEs worldwide, fostering economic growth and development.
Additional Investment: Alongside the DGGF's investment, Bank Lviv received an additional EUR 1 million from its largest current shareholder, the Swiss company responsAbility Participations. This brings the total capital gain to EUR 5.5 million.
Statements from Key Figures:
- Lida Vardaniya, Triple Jump: "We are glad to become shareholders of Bank Lviv through the DGGF fund and to contribute to the further growth and development of the bank. This investment will help to continue supporting Ukrainian business in such difficult times."
- Volodymyr Tsapko, responsAbility Investments: "The additional investment from responsAbility together with the investment from DGGF underscores our commitment to supporting the bank and the Ukrainian economy. We welcome DGGF as a new investor and look forward to the growth opportunities this partnership will create."
- Ashot Abramyan, Bank Lviv: "Partnership with DGGF opens up new opportunities for Bank Lviv. And what is much more important—for our customers. After all, investment capacities for the development of small and medium-sized businesses in the western region of Ukraine are increasing."
Impact on Ukrainian Economy: The capital raised by Bank Lviv from the DGGF is a positive signal for Western investors, showcasing the resilience and potential for recovery in the Ukrainian economy despite the ongoing war.
Conclusion
The DGGF's EUR 4.5 million investment in Bank Lviv highlights the ongoing international support for Ukraine's economic development. This partnership will enhance the bank's capacity to support SMEs, driving growth and stability in the region.
