Oschadbank and Western NIS Enterprise Fund proceed with crediting social enterprises

Kyiv, Ukraine — October 01, 2018

Western NIS Enterprise Fund granted another social loan via Oschadbank under the Social Entrepreneurship program. It went to the Dontech Ex, LLC from Druzhkivka, Donetsk region, which produces wooden containers for the local enterprises and provides substantial support to the displaced persons from the ATO zone. The company provides low-income families and the military of Druzhkivka with firewood, which is, in fact, the production waste. Moreover, Dontech Ex employs the internally displaced persons.

The received funds will increase the output, which will enable entering the new markets. The internally displaced persons are herewith anticipated to drive the staff expansion.

“The Impact Investing Program is committed to support those enterprises that offer the ultimate social impact along with their business plan. We see it as a solution of the communities’ urgent problems, particularly in the east of Ukraine,” noted Vasyl Nazaruk, WNISEF Impact investing Program Manager.

“A good business idea can solve a number of social problems. It proves to be right when everybody profits from it. In a healthy environment, a business must benefit itself and society. We know how extremely important it is to support the development of this social business, that is why we proceed with funding social entrepreneurship”,pointed Andrii Pyshnyi, Chairman of the Oschadbank Management Board.

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 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.