The Multilateral Investment Guarantee Agency will provide insurance for small and medium-sized businesses in Ukraine from the Trust fund for the support of the reconstruction and economy of Ukraine. The corresponding agreement between MIGA, German ProCredit and its branch ProCredit Ukraine was signed on June 21. The insurance budget has been increased from €17.1 million to €40.85 million, valid until 2025.
"Small and medium-sized businesses will get access to urgently needed working capital. The agricultural sector receives funding to continue exporting grain to global markets. In addition, Ukrainians will be able to count on the necessary banking services," MIGA executive VP Hiroshi Matano.
"The increase in the MIGA guarantee will support our activities in Ukraine, and we see good prospects for continuing to work with our clients both now and during the country's recovery," ProCredit General Partner AG chairman Hubert Spechtenhauser.