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2017-06-08 00:00:00
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Known as EEGF III, the Emerging Europe Growth Fund III will be supporting SMEs over the coming years with a particular focus on Ukraine. In order to provide financing for these companies though, the Fund needed support and this has arrived in the shape of the EBRD who has announced a $30 million investment. With this latest addition, it means the EEGF III has now received financial support from the International Finance Corporation (IFC), Western NIS Enterprise Fund, DEG (investment corporation in Germany), FMO (development bank in the Netherlands), and the EBRD.
Horizon Capital, a private equity firm, will look after the Fund and therefore seek out the fastest-growing SMEs in Ukraine and the surrounding region. Managing Director of the EBRD within the Eastern Europe and Caucasus regions, Francis Malige, has said “By supporting small and medium-sized businesses we are investing in the future of the region. These companies are willing to embrace new business standards and technologies and drive national economies to make them sustainable and competitive. Horizon Capital has been our reliable partner for many years and we are confident it will help the EEGF III become a successful tool in achieving our strategic objectives here.”
Over the years, the EBRD has been a keen supporter of businesses and various other industries within Ukraine. Between 1993 and 2017, nearly 380 projects have been completed in Ukraine totalling investment of over €12 billion.
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