Ivano-Frankivsk-based Promprylad Raised UAH 60 Million

Ukrainian innovation center based in Ivano-Frankivsk Promprylad.Renovation raised UAH 60 million by Ukrgasbank.

• State-owned Ukrgasbank will provide a loan in the amount of UAH 60 million via the 5-7-9% Affordable Loans program to complete the second stage of the reconstruction of the plant’s territory as part of the Promprylad.Renovation project.
• The relocation of 12 new businesses and teams to Promprylad revealed that the project has sufficient potential to accommodate new companies and create a significant number of additional jobs.
• Now the main goal is to speed up the reconstruction process and put into operation 17 to 24k sq.m of the plant’s territory.
• Financial support from Ukrgasbank plays an important role in the implementation of this plan, which is especially important in the context of relocating businesses to the west of Ukraine and supporting the domestic economy.
• The plans for the second phase of construction involve opening a food market, a craft brewery, offices of innovative companies, an art center, a gym, and shops at Promprylad. In total, since the start of its implementation, the project has attracted $13.1 million from 1,270 private investors and companies from Ukraine and 20 countries around the world.
• This is a successful case of impact investing, which is unique for Ukraine, since it is not only about profit, but also about beneficial social influence.