KIEV, April 5 – Kiev-based Erste Bank and the East Europe Foundation have started realizing a joint project on the financing of socially minded businessmen in the form of loans and grants, the bank announced.

The maximum sum of the credit under the project could be up to UAH 200,000, including 50% of granted funds. The term of crediting is up to five years. The grant is to be used in a period of from three to 12 months. Erste Bank also sets beneficial rates for credits for socially minded businessmen that are 2% lower than financing rates for commercial institutions, reads the report.

Under the project, the credits are issued to replenish working capital, acquire vehicles or equipment, reconstruct and repair premises, etc, while grant funds can be used to finance staff training, the publication of information materials, audit, accountant or law services, expenses on leasing or servicing of offices, expendable materials and equipment, participation in exhibitions, purchase of office equipment and software, popularization of an idea of socially-minded business, etc.