Marchenko Partners acted as a legal counsel for WNISEF, its longstanding client, in connection with granting a social loan to Walnut House, a Lviv-based bakery. This loan has become the fourth for the bakery, and 23rd for the Fund within its Impact Investing Program.
The program was initiated in 2016 by WNISEF in partnership with Oschadbank and Kredobank. It allows social enterprises (businesses that implement social or environmental programs or resolve certain social issues) to get access to Hryvnia-denominated low-interest loans.
Walnut House is a social enterprise that transfers 40% of its income for support of the Social projects of Walnut House Fund, including the Center of integral care for women in crisis. The bakery’s mission is to “overcome poverty, using the tools of social business”. It was founded back in 2012, and currently offers the services of bakery, catering and lunch delivery.
Marchenko Partners’ team included Associate Bogdan Burlaka and Junior Associate Oleksandr Pozniakov, led by Partner Roman Shulyar.
“Our team is delighted to have participated in each of the 23 loans granted within the program. We believe that our country needs more social projects, especially in such difficult times as everyone is facing this year. We plan to continue our cooperation with WNISEF, making our own contribution into the better tomorrow for our country,” comments Roman Shulyar.
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.