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Zelensky asks EBRD to support Ukraine's small and medium businesses

Source : 112 Ukraine

State companies need extra liquidity, too, Ukrainian leader says
08:04, 6 May 2020

Zelensky
president.gov.ua

Ukraine hopes that the EBRD will be able to support this country's state programs of funding small and medium businesses - as well as the activity of state companies. The press office of the head of the state quoted Zelensky who had a phone conversation with Suma Chakrabarty, the EBRD President.

"We understand that small and micro businesses suffer the most, and that is our economy. The Office of the President, the Government, and the Parliament - we all work together to develop programs to support our entrepreneurs. In this regard, I suggest that the EBRD consider ways to support the government's actions to launch a program of large-scale financing of SMEs, as well as providing guarantees for such loans," Zelensky said.

He noted that because of the crisis caused by the spread of coronavirus, Ukraine's state companies need extra liquidity, too. The official expressed hope that the EBRD could provide support for these companies.

Related: EBRD opposes rush of Ukraine's government with land reform

Besides, the Ukrainian leader expects that the Bank will approve the allocation of a loan for Ukravtodor company in the amount of 450 mln Euros; the funds are supposed to cover the needs of reconstruction of M05 highway (Kyiv - Odesa) and the construction of northern bypass roadway around Lviv (western Ukraine).

"Suma Chakrabarti praised the ongoing reform process in Ukraine despite the COVID-19 epidemic, noting, in particular, the effective concession law and the vote for the land market opening law. Volodymyr Zelensky stressed that Ukraine will continue reforms," reads the message on the web site of the President's Office.

Related: EBRD to provide financing for reconstruction of Kyiv-Odesa highway

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