Photo: the First transaction is expected in the near future

The agreement is to increase the availability of financing in the national currency for Ukrainian companies.

The European Bank for reconstruction and development and the national Bank of Ukraine has agreed to swap $500 million, the press service of the Bank on Thursday, 7 may.

“Swap “the dollar-hryvnia” will allow the Bank to obtain reliable access to hryvnia liquidity and to provide loans in local currency both existing and new customers”, – stated in the message.

Specifies that the funds will be used to meet urgent needs companies in liquidity, short-term working capital and trade Finance. The results of funding in the national currency will allow to restrict the relevant foreign exchange risks, said the EBRD.

This funding should mitigate the economic impact of a pandemic coronavirus, said in the Bank.

It is expected that the first transaction under this swap will be implemented in the coming weeks.

We will note, according to the national Bank’s April expectations index of business activity fell to a record low of 29.9 points.


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