Western NIS Enterprise Fund and Oshchadbank proceed with crediting social enterprises at unprecedented rates

Kyiv, Ukraine — March 13, 2017

Loans, as part of the innovative program "Social Entrepreneurship", are granted at the rate of 5% to 10% per annum.

This time, the social credit was granted to CCE "Dnipro Training and Production Enterprise of the Ukrainian Society of the Blind." This enterprise, where 68 workers suffer from visual impairments and other disabilities, specializes in manufacturing equipment for Ukrzaliznytsia rolling stock and produces building products.

The funds drawn from Oshchadbank with the financial support of Western NIS Enterprise Fund will help to increase the volume of production and strengthen the market power of the enterprise by overall output, which in turn will ensure stable salaries for the employees and provide new jobs for the disabled or IDPs.

"We support socially responsible business. Today’s entrepreneurs, who redistribute profits to resolve acute social problems, are in urgent need of such assistance. They improve the lives of many people who seek our support ", - says Andrii Pyshnyi, the Chairman of Oshchadbank.

"It is crucial for our Fund to find such enterprises which, having the available funds at their disposal, will be able solve the problems of vulnerable population groups on a larger scale, while showing the viability and profitability. Dnipro TPE “UTOS” is the best to exemplify this, "- notes Vasyl Nazaruk, the Impact Investing Program Manager of Western NIS Enterprise Fund.

"This program is a real breakthrough for Ukraine towards supporting social enterprises. It makes our employees feel confident about the future and gives them stability that is so needed today", - says Serhii Kit, the Director of CCE “Dnipro TPE “UTOS”.

 

The "Social Entrepreneurship" program allows small businesses, that ensure the implementation of social projects and initiatives or solve some social problems of the disadvantaged groups as a part of its activities, to receive a national currency loan at economically attractive rates (from 5% to 10% per annum). Preference is given to projects that support primarily the citizens of Ukraine who suffered from the conflict in the East, including IDPs from southern and eastern regions, people with disabilities, low-income women and members of other disadvantaged social groups. Social business-plans for getting funds may be sent via e-mails:vnazaruk@wnisef.orgMSMB.00@oschadbank.ua.