Marchenko Partners advised WNISEF in connection with granting two social loans to Smachni Spravy LLC and Pizza Veterano Kyiv. These loans added up to 24 previously granted ones by the fund, so our law firm has now advised on 25 loans granted within Impact Investing Program and 1 loan within the “Affordable Loans for Social Enterprises in Eastern Ukraine” project.
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.
Smachni Spravy LLC is a social enterprise in Brovary, Kyiv Region, specializing in the production of meat products. The company’s social impact is that it employs persons displaced from the territory of eastern Ukraine affected by military actions. This is the second loan within the program granted to the enterprise.
Pizza Veterano is a social entrepreneurship venture that helps ex-combatants of the war in eastern Ukraine adjust to normal life. Ten percent of Pizza Veterano’s profit goes toward supporting Anti-Terrorist Operation (ATO) combatants and their families. ATO combatants enjoy bonuses and discounts. This is the third loan granted to this company.
Marchenko Partners’ team working on the project included Senior Associate Bogdan Burlaka and Associate Oleksandr Poznyakov, led by Partner Roman Shulyar.
“Our team enjoys making real contribution into the welfare of Ukrainian social enterprises. Two additional loans were granted this time, meaning that business receives the required support and has much better chances to overcome this difficult period of quarantine. We will further support WNISEF in all its social projects, making our world a better place,” comments Roman Shulyar.
WNISEF — Western NIS Enterprise Fund (WNISEF) is a US$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 US$186 million to 130 companies employing around 26,000 people and made it possible to unlock US$1.8 billion for companies in Ukraine and Moldova.
In 2015, WNISEF has launched a US$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.