Minister of Finance Natalie Jaresko
welcomed the launching of an innovative, local-currency denominated,
low-interest Western NIS Enterprise Fund (WNISEF) and Oschadbank
loan program providing finance to social enterprises.
On behalf of the Government Minister of Finance Natalie Jaresko expressed a deep gratitude to Western NIS
Enterprise Fund (WNISEF) and the U.S. Government for their support which helps
Ukraine's Government to overcome the daunting social and economic challenges that
Ukraine faces in conditions of scarce state budget resources.
WNISEF’s and Oschadbank's
low-interest loan program will provide accessible credit to social enterprises
totally amounting 100 million hryvnas. Social
enterprises will primarily benefit disadvantaged women, disabled persons,
internally displaced persons from the Southern and Eastern regions of Ukraine,
"Social entrepreneurs are individuals with innovative
solutions to society’s most pressing social problems. Rather than leaving
societal needs to the government or business sectors, social entrepreneurs
solve the problem by changing the system, spreading the solution. Businesses
that support social good and are not focused solely on profit generation create
a new way to improve our community and the lives of our fellow citizens",
said Natalie Jaresko.
Minister of Finance spoke in favor
of such initiative because under circumstances of scarce state budget resource,
it is important to create possibilities for citizen's financial independence.
«I want to congratulate all of us that together we have made an important step
forward to solve daunting social and economic issues that Ukraine faces today.
I am confident that this social entrepreneurship loan program will allow
Ukrainians to feel themselves secure and independent", concluded Natalie Jaresko.
The loans will be financed from the United States Agency for
International Development (USAID) $30 million technical assistance program
provided to the WNIS Enterprise Fund.
- Program will provide individual loans of between UAH 250
thousand and UAH 2.5 million
- Crediting period up to 3 years for the purchase of
equipment and immovable property and up to 2 years for increasing the current
- Fixed interest rate for the entire crediting period is 5%
or 10% p. a., which will be decided by the Program’s loan committee
individually for each application
- Loan purpose: Purchase of equipment, property, increase of