EFSE partners with Ukrgasbank to provide EUR 20 M in financing to Ukrainian MSMEs

Chișinău, 17 June 2025 – The European Fund for Southeast Europe (EFSE) through its Ukraine Sub-Fund (USF) launched a new partnership with Ukrgasbank, a leading Ukrainian financial institution with a strong focus on sustainable and responsible growth, including, financing for local micro, small, and medium-sized enterprises (MSMEs). This collaboration aims to expand access to local currency finance, particularly in regions most affected by the Russian aggression and among socially disadvantaged groups such as women and veteran entrepreneurs.

EFSE has allocated EUR 20 million in a long-term local currency loan facility to Ukrgasbank, complemented by a dedicated grant program for MSME end-borrowers. The two instruments are designed to strengthen the viability and resilience of MSMEs amid heightened risks and unprecedented uncertainties, supporting both urgent business needs and long-term recovery and growth.

Building on Ukrgasbank’s track record in financing sustainable projects and promoting responsible business conduct, the institution is well-positioned to channel EFSE USF funding into impactful, forward-looking investments for an inclusive economic recovery.

The new partnership was confirmed at the signing ceremony organized as part of the 1-year anniversary event marking the launch of EFSE USF - “Unlocking Potential: Charting Pathways for Lending Recovery in Ukraine” in Chișinău, Moldova, on 17 June 2025.  

“Collaborating with Ukrgasbank supports EFSE USF’s mission of strengthening MSME viability, business continuity, and resilience amid wartime, while contributing to a sustainable, inclusive, and growth-oriented recovery in Ukraine” emphasized Jasminka Begert, EFSE Portfolio Manager at Finance in Motion.

“Partnering with EFSE represents an investment in the stability and growth of the Ukrainian economy. Amid the challenges posed by the ongoing war, it is our duty as a bank to ensure reliable access to financing for businesses, especially SMEs. This agreement enables us to respond more effectively to our customers’ needs during this challenging time for our country,” said Rodion Morozov, Acting Chairperson of Ukrgasbank (UGB). 
 

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 Ukrgasbank
UGB is one of Ukraine’s leading state-owned banks, operating across all business segments with a strong focus on sustainable finance. As a frontrunner in sustainable banking, UGB actively supports initiatives related to energy efficiency, clean energy, and environmentally responsible business practices. The bank plays a pivotal role in facilitating access to financing for enterprises, including small and medium-sized businesses throughout Ukraine. UGB maintains close partnerships with international financial institutions to attract on soft terms funding for supporting the growth and resilience of the Ukrainian economy.

 

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

Ukrgasbank: Viktoriia Rudenko
Head of the External and Internal Communications Division of the Corporate Communications Department of Ukrgasbank  
Mobile: +380 67 673 42 95  
vvrudenko@ukrgasbank.com