Yet Other Social Loans Granted with Marchenko Partners’ Legal Support under WNISEF’s Impact Investing Program

Marchenko Partners acted for Western NIS Enterprise Fund in connection with two new social loans granted under the Impact Investing Program.  One of the loans was given to CCE “Dnipro Training and Production Enterprise of the Ukrainian Society of the Blind”. This enterprise, with 68 workers suffering from visual impairments and other disabilities, specializes in manufacturing equipment for Ukrzaliznytsia rolling stock and produces construction materials. The credit funds will help the borrower to increase its production volumes and strengthen the market position.

Another social loan was granted to the Center for Labor Rehabilitation of Disabled Persons «Printing House». The company will use the credit funds to purchase new equipment, hire more employees, and increase wages.

For each of the borrowers, this was the second loan obtained under WNISEF’s Impact Investing Program.

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 Investing Program is the low-interest loan mechanism implemented by Western NIS Enterprise Fund in partnership with Ukrainian banks Oshchadbank and Kredobank.

The project was handled by Associate Bogdan Burlaka and Junior Associate Oleksandr Pozniakov under the coordination of Partner Roman Shulyar.

“We are proud to continuously assist WNISEF with implementation of the Impact Investing Program.  We strongly believe that this program does not only help selected socially responsible businesses but can eventually change the country”, — said Roman Shulyar, Partner of Marchenko Partners.

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.