Pivdenny Bank and RIB launch a program for financing Ukrainian businesses in Europe

Pivdenny Joint-Stock Bank, which is the third largest bank with Ukrainian private capital in terms of assets, together with Regionala investiciju banka (RIB), Latvia, created the Pivdenny West Bridge program which helps Ukrainian businesses get financing for development in Europe. Oleksandr Matiushenko, Head of Corporate Business Department, Board Member of Pivdenny Bank, told Forbes about the program.

Reduced domestic demand and war risks forced Ukrainian large businesses to expand on the EU market. When the owners/company decided on relocation, they face the issue of working capital shortage and the need to acquire assets in a new market. Obtaining bank financing for this purpose is one of the serious challenges. Ukrainian banks cannot provide loans due to restrictions of the National Bank, while European banks are restrained in considering loans to Ukrainians due to the war. They mostly work with standard credit products aimed at local companies and do not understand how Ukrainian business functions and how to assess its credit risk.

But friends help Ukrainians even in this case. Pivdenny Bank together with RIB created the Pivdenny West Bridge program, which helps Ukrainian businesses to get financing for development in Europe.

Read in the Forbes article how the program works. More detailed information about the program is available on our website here.