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EFSE USF and Piraeus Bank join forces to launch EUR 10 Million loan facility in UAH to support Ukrainian MSMEs

EFSE USF and Piraeus Bank join forces to launch EUR 10 Million loan facility in UAH to support Ukrainian MSMEs

pb usf signing

Chișinău, 17 June 2025 ––The European Fund for Southeast Europe (EFSE) and its Ukraine Sub-Fund (USF) are pleased to announce the signing of a new EUR 10 million loan facility in UAH with Piraeus Bank, combined with a financing-linked MSME grant program. This strategic initiative aims to enhance access to long-term local currency financing  for local businesses in a highly challenging operating environment marked by severely constrained credit supply.

The grant component of this facility is designed to alleviate financing barriers for affected MSMEs, particularly in the agricultural sector, by addressing market distortions such as limited credit risk appetite, and overall unpredictability. These grants will support MSMEs in maintaining business continuity and viability, enabling relocation and adaptation, preserving employment, and restoring essential assets.

"We are committed to supporting MSMEs in overcoming the financial challenges they face, especially in these uncertain times," said Jasminka Begert, Portfolio Manager EFSE at Finance in Motion. This new facility will provide much-needed financial relief and help ensure the sustainability and growth of MSMEs in the region."

“At Piraeus Bank, we understand the crucial role MSMEs play in ensuring Ukraine’s economic resilience and post-war rebuilding. Our partnership with EFSE is the next step in strengthening Piraeus Bank’s cooperation with international funds to support Ukraine’s recovery. It enables us to improve the facilitation of access of the companies to financing and offer tailored financial solutions that reduce project risks, enhance business resilience, address urgent liquidity needs, and support the long-term sustainable development goals of local enterprises” said Yannis Kyriakopoulos, Chairman of the Board at Piraeus Bank.

About EFSE
The European Fund for Southeast Europe (EFSE) is an impact investment fund to drive economic development and prosperity in Southeast Europe and the Caucasus. Through its two sub-funds—the Regional Sub-Fund (RSF) and the Ukraine Sub-Fund (USF)—EFSE provides tailored financial solutions to foster entrepreneurship, strengthen financial inclusion, and support local economies. EFSE was initiated in 2005 by KfW Development Bank with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. As the first public-private partnership of its kind, EFSE draws its capital from donor agencies, international financial institutions, and private institutional investors. Finance in Motion GmbH, Germany, serves as EFSE’s Portfolio Manager and Hauck & Aufhäuser Fund Services S.A., Luxembourg, acts as manager.  

For more information on the European Fund for Southeast Europe, please visit: www.efse.lu  

 

About Finance in Motion
Finance in Motion structures, manages, and advises almost €4 billion across 10 funds, all classified as SFDR Article 9. These private market funds drive impact for people and planet through regional financial intermediaries, direct investments, advisory and capacity building. Founded in Germany, with local expertise from Latin America to Eastern Europe, it has been investing in emerging markets for over 20 years.  
For more information, please visit: www.finance-in-motion-com

 

About Piraeus Bank
Piraeus Bank in Ukraine is a subsidiary of the largest financial group in Greece - Piraeus Financial Holdings S.A. The Group was founded in 1916 with head office located in Athens, Greece. Piraeus Bank has been operating in Ukraine since 2007. It promotes entrepreneurship and provides a full range of banking services to corporate and private clients, along with supporting humanitarian initiatives. Committed to Ukraine’s recovery, Piraeus Bank is investing in the local economy and expanding its operations.

 

Media Contacts:
EFSE: Nusha Westhoff
Director Marketing & Communications
Mobile: +49 69 271 035-789
press@efse.lu


Piraeus Bank:  
Anastasia Chernenko  
PR and Media Relations  
Email: achernenko@piraeusbank.ua  
Phone: +38 (044) 495-88-88; +38 (067) 715-46-68  

 

Contact us

Media contact

Nusha Westhoff

Marketing & Communications  

Phone: +49 69 271 035-789

Email: n.westhoff@finance-in-motion.com