The Dutch Good Growth Fund (DGGF) injected nearly €5 million into Bank Lviv in Ukraine, marking the bank as the first in the country to attract a foreign investor since the onset of the war. Managed by Triple Jump and PwC on behalf of the Dutch Government, DGGF’s investment in Bank Lviv was announced at the Berlin Recovery Conference.
Following DGGF’s investment, the bank’s largest shareholder, ResponsAbility Participations, added an extra €1 million to bring the total capital increase to €5.5 million. This capital infusion aims to enhance financial support for small and medium-sized businesses in western Ukraine, a region seeing increased economic activity due to the conflict with Russia.
With a focus on supporting small and medium-sized businesses in emerging markets, DGGF’s investment in Bank Lviv will bolster the bank’s role as a key player in the region. In addition to the DGGF investment, Bank Lviv has secured deals with various international financial institutions and launched grant programs to aid local businesses.