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Marchenko Partners have provided legal support to WNISEF within lending two social loans.
One of them was given 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. Received funds will help increase production volumes and strengthen the market position of the enterprise in terms of production volume.
Another one borrower was a Center for Labor Rehabilitation of Disabled Persons “Printing House”. It is a printing house where people with disabilities are employed. The new loan will allow the company to purchase new equipment, increase the number of employees and increase their wages.
This year Dnipro TPE “UTOS” and “Printing House” received second loan within WNISEF program.
21 loans have already been granted within the Impact Investing Program.
“We also make our social contribution to society in line with our vision, when advising WNISEF to provide loans to socially responsible businesses”, – said Roman Shulyar, Partner Marchenko Partners.
Over the last 3 years, our lawyers not only helped WNISEF to launch the Impact Investing Program but also advised on each of 21 loans granted within the program to the social enterprises from all over Ukraine.
The Impact Investing Program allows social enterprises (businesses that implement social or environmental programs or resolve certain social issues) to get access to Hryvnia-denominated low-interest loans. One of the aspects of the implementation of the Impact Investment Program is the low-interest loan mechanism implemented by Western NIS Enterprise Fund in partnership with Ukrainian Banks State Savings Bank of Ukraine and Kredobank.
The project was handled by Associate Bogdan Burlaka and Junior Associate Oleksandr Pozniakov under the coordination of Partner Roman Shulyar.
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WNISEF — Western NIS Enterprise Fund (WNISEF) is a $150 million regional fund, a pioneer in Ukraine and Moldova with more than two decades of successful experience in investing in small and medium-sized companies. WNISEF was funded by the U.S. government via the U.S. Agency for International Development (USAID). Since its inception, WNISEF’s cumulative investments total over $186 million to 130 companies employing around 26,000 people and made it possible to unlock $1.8 billion for companies in Ukraine and Moldova.
In 2015 WNISEF has launched a $35 million legacy program focused on export promotion, local economic development, impact investing and economic leadership. WNISEF is funding innovative, high-impact, reform focused programs and aims to support Ukraine and Moldova at this critical period by developing sound economic policy and leadership.