Bank Lviv invites international investors to Lviv
“investor day” organized by Bank Lviv on 21 February 2018 to discuss small
business financing in Western Ukraine was attended by fifteen participants from
eleven leading international investors, namely the European Bank for
Reconstruction and Development (EBRD), the European Investment Bank (EIB), Frankfurt-based
investment advisor Finance in Motion, the Dutch development bank FMO, the
German Ukrainian Fund (GUF), the Danish IFU, the Belgian investment manager Incofin,
the Nordic Environment Finance Corporation (NEFCO), the Dutch investment manager Triodos
IM, the Amsterdam-based investment manager Triple Jump and the United States
Agency for International Development (USAID).
billions of dollars all around the world to support activities that contribute
to sustainable economic development, these investors recognize the strong
business potential of local entrepreneurs from Western Ukraine and connected investment
opportunities in the region. SMEs in Western Ukraine are recognized to be among
the most dynamic in Ukraine.
Bank Lviv has been supporting micro, small and medium-sized businesses (MSMEs) in Western Ukraine for more than 20 years. The bank has recently announced a forthcoming tie up with responsAbility – a Swiss-based international investor for emerging markets, and is now in the process to develop partnerships with other international investors interested in Ukraine. It is not surprising that it became the primary sponsor and organizer of the event. Oxana Binzaru from Finance in Motion mentioned:
"We see a huge opportunity for MSME development in Western Ukraine, led by Lviv and other western regions. Supporting local MSMEs for tourism, manufacturing, agriculture and exports ties up very well with our mission to support the development of local economies”.
Many of the investors participating in the “investor day” organized by Bank Lviv, showed themselves particularly interested in the Ukrainian agricultural sector, which is developing fast. Western Ukraine is leading in production, processing and exports of milk and meat products, fruits and vegetables, and eco-agriculture. Natalia Osadcii, the bank’s deputy chairperson of the management board, commented:
"Local businesses are remarkably effective. There is a deep entrepreneurial culture in the region, an always-present desire not only to succeed, but to develop a product of high quality. Many of the businesses today speak about their family tradition and reputation passing from generation to generation, an identity that even the years of the Soviet past were not able to destroy. We see a lot of pride and trust among small businesses in Western Ukraine, and we want to share this with our foreign partners”.
Besides Bank Lviv’s management, middle managers of the bank participated in the event, sharing their experience with the investor representatives, and providing insights from the field. Rosanna Sarkeyeva from Triodos IM commented:
“We highly appreciate the clear strategy and work performed by the bank, which are proven by visible results. The bank has a strong team of professionals providing banking services to micro, small and medium-sized companies in Western Ukraine. The mission and strategy of Bank Lviv is very much in line with Triodos’ values and vision of responsible finance aimed to promote economically relevant sectors of the local economy. We are glad to contribute to sustainable development in Ukraine through the partnership with Bank Lviv.”
Small businesses, as often the case, are not actually waiting for a bank to take the lead. Many are already developing extensively their local and international partnerships. Bank Lviv’s chairperson of the management board, Ashot Abrahamyan, commented:
"For many of our customers, business is an integral part of their lives. They invest a lot in developing their companies, and naturally, they use every opportunity to bring their business to a new level. Western Ukraine, without doubt, is the leader in Ukraine in terms of joint ventures, import and export, franchising development and other types of cooperation. We want to add to this strong culture of entrepreneurship the competence of Bank Lviv in providing tailor made financing and banking services needed to conduct the necessary investments. The more there is ‘Made in Ukraine’ coming from the region, the more it will help the local economy and population”.