Olga Radinovich is the General Director of Reabilitimed, a Ukrainian manufacturer of orthopaedic and medical products. Her company had been wanting to invest in new equipment from Germany for two years when she heard on the radio about EU4Business SME loans through the German Ukrainian Fund (GUF).
Under the programme, 50% of the nominal interest rate set by the loan agreement is compensated for SMEs in Kyiv by the city administration, meaning small businesses have access to the lowest rate in Ukraine.
When she heard this, Olga Radinovich picked up the phone to Ugrasbank, which cooperates with the programme, received the loan and bought the equipment. The investment has allowed Reabilitimed to increase production and quality, creating additional jobs and giving the company the confidence to provide its customers with the orthopaedic products they need.
“Entrepreneurs, do not be afraid! One phone call allows you to achieve what was planned,” Olga urges fellow SMEs.
The GUF implements the KfW programme of the EU4Business SME Finance Facility Phase II, with funding from the EU and Germany through the German Development Bank KfW. Its SME Investment Support programme works with local partner banks and local administrations to stimulate local currency lending, especially for micro, small and medium-sized enterprises (MSMEs) in Ukraine that are not earning foreign currency and cannot afford the high costs of borrowing.