Sayenko Kharenko has acted as Ukrainian legal counsel to the European Bank for Reconstruction and Development (EBRD) in connection with the extension of up to EUR 25 million loan to Crédit Agricole Bank Ukraine.

The proceeds of the loan will be used by Crédit Agricole Bank Ukraine to expand its local currency leasing solutions to micro, small and medium-sized enterprises across Ukraine. Such leasing solutions will allow eligible enterprises to invest in upgrades of their machinery, equipment and technologies that are compliant with EU product quality, health and safety, and environmental protection standards. In addition, following the completion of upgrade projects lessee companies will be eligible for grant support funded by the EU.

Ukraine is a top three investment destination for EBRD. Financing smaller businesses directly and through financial institutions is a particular focus of the EBRD’s work in Ukraine.

Crédit Agricole has been operating in Ukraine since 1993 and provides a full range of banking services. In particular, it is a leader in car leasing and a strategic partner to agribusinesses.

Sayenko Kharenko’s team was led by partner Igor Lozenko and included associate Vladyslava Mitsai and junior associate Oleksandr Motin.