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To banks

Any Ukrainian bank for which cooperation with small and medium-sized enterprises is one of the priorities, which has a reliable, stable financial condition, complies with the regulations of the NBU and carries out profitable activities, can become a partner of the NDI.

By becoming a partner of the NDI and concluding a Partnership Agreement, the bank gets access to the BDF’s credit resources for all current and future programs and projects. The partner bank at its discretion determines the NDI programs in which it wishes to participate.

For Banks

The procedure for acquiring the status of a partner bank:

  1. A bank interested in partnering with the NDI should send a written request to the Chairperson of the Management Board of the NDI with justification of its interest in cooperation with the NDI for the purpose of developing SME lending together with a completed questionnaire that can be downloaded from the website.
  2. In the event of a positive evaluation of the questionnaire data, the NDI conducts a remote and on-site assessment of the bank, including an assessment of its financial condition, the presence in the bank’s strategy cooperation with SMEs, relevant credit technologies and procedures, and conducts a selective review of the credit files of SME borrowers lent by the bank at the expense of its own funds (if available) etc. Based on the results of the analysis, the NDI prepares materials for the Chairperson of the NDI for consideration of the possibility of submitting to the NDI Council meeting the issue of approving the bank as a partner bank of the NDI.
  3. The Board of the NDI at its next meeting or in the working order decides on the approval of the bank as a partner of the NDI and the conclusion of the Partnership Agreement by the bank.
  4. NDI and the bank sign the Partnership Agreement, which defines the general framework of further cooperation between them.
  5. The NDI concludes loan agreements with the partner bank for the desired amount within the framework of the selected programs. At the same time, the total indebtedness of the partner bank to the NDI under all concluded credit agreements should not exceed 50% of the NDI’s equity capital.
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Basic lending conditions for NDI partner banks and sub-borrowers:

MICRO-CREDIT PROGRAM PROGRAM FOR REFINANCING MEASURES TO SUPPORT THE CREDIT SYSTEM IN RURAL AREAS MSME PROGRAM PROGRAM FOR SUPPORTING FINANCING OF INVESTMENT PROJECTS OF SMALL AND MEDIUM-SIZED ENTERPRISES ACCORDING TO PRIORITY AREAS

QUESTIONS AND ANSWERS

1. OUR MISSION

The National Development Institution (NDI) acts as a second-tier financial institution and operates exclusively through partner banks and non-bank financial institutions.

NDI’s mission is focused on:

✔️ Supporting MSME financing – ensuring access to affordable finance for entrepreneurs through a combination of financial instruments, including concessional loans, credit guarantees, interest rate subsidies, and grant support to co-finance investment costs;

✔️ Supporting the banking sector – fostering a sustainable infrastructure for long-term business financing;

✔️ Enhancing entrepreneurial capacity – strengthening entrepreneurs’ skills through training and improving their financial literacy;

✔️ Cooperation with international partners – mobilizing financial and technical resources to implement MSME support programmes.

2. GENERAL FRAMEWORK

The establishment of the National Development Institution dates back to 1996, when a grant agreement was signed between Ukraine and the Government of Germany. The funds provided under this agreement were used to launch a microcredit programme and to establish the German-Ukrainian Fund under the German Federal Government’s TRANSFORM programme.

Pursuant to the terms of the grant agreement, the German-Ukrainian Fund (GUF) was established in 1999. Its founding members included KfW Development Bank, the Ministry of Finance of Ukraine, and the National Bank of Ukraine.

In 2020, following the launch of the state programme “Affordable Loans 5–7–9%”, the GUF was renamed the Entrepreneurship Development Fund (EDF), while retaining full legal succession to all rights and obligations of the GUF.

As of 1 January 2026, in accordance with the Law of Ukraine “On the National Development Institution”, the National Development Institution (NDI) commenced operations as the legal successor to the EDF.

The Ministry of Finance of Ukraine is authorized to exercise the state’s corporate rights in the authorized capital of the NDI.

NDI operates as a non-profit institution, with all funds reinvested into further lending and the development of MSME support programmes.

3. GOVERNANCE

The governing bodies of the National Development Institution (NDI) are the General Meeting of Participants and the Supervisory Board.

The highest executive officer is the Chairperson of the Management Board.

Independent Supervisory Board: established in 2025 as a key pillar of the institution’s governance reform, with the support of international partners. The Supervisory Board comprises three independent international experts and two state representatives, ensuring a balanced and professional governance structure aligned with international best practices.

The Supervisory Board provides strategic oversight and ensures accountability, transparency, and institutional integrity. It plays a central role in safeguarding the effectiveness of NDI’s operations, overseeing risk management systems, and upholding high standards of corporate governance in line with those applied by leading international financial institutions.

The sole participant of NDI is the Government of Ukraine, represented by the Ministry of Finance of Ukraine.

4. Financial Instruments and Services

NDI implements government and donor-funded programmes to support entrepreneurship, applying financial instruments based on the principles of revolving funds and financial sustainability. The institution acts as an implementing agency of state policy in facilitating access to finance for micro, small and medium-sized enterprises (MSMEs), delivering its programmes exclusively through authorized partner banks.

NDI’s financial instruments are designed to stimulate business investment, support enterprise liquidity, foster job creation, and contribute to Ukraine’s economic recovery, particularly in the context of wartime challenges and post-war reconstruction.

Key instruments include:

✔️ MSME lending programmes through partner banks
NDI facilitates access to finance by implementing state-supported lending programmes, including the “Affordable Loans 5–7–9%” programme. Loans are extended through authorized banks in accordance with government-defined terms and conditions. These programmes cover investment financing, working capital financing, and refinancing of existing liabilities.

✔️ Interest rate subsidy programmes
NDI operates mechanisms for partial compensation of interest rates on loans, significantly reducing the cost of borrowing for businesses and enhancing the affordability of credit. This instrument represents a core component of state support for entrepreneurship and incentivizes bank lending.

✔️ Credit guarantee and risk-sharing instruments
The institution implements portfolio guarantee schemes and other risk-sharing mechanisms to mitigate credit risks for partner banks, thereby expanding access to finance for businesses lacking sufficient collateral.

✔️ Targeted financial products
NDI develops and implements dedicated programmes to support:

  • innovation and industrial modernization;
  • green investments and energy efficiency;
  • socially important initiatives, including entrepreneurship in affected regions and support for vulnerable groups of entrepreneurs.

✔️ Programmes in cooperation with international partners
NDI mobilizes resources from international financial institutions and donors to implement joint programmes that combine financial support with technical assistance aimed at strengthening the capacity of both businesses and the financial sector.

5. Programmes

The core instrument of NDI’s operations is financial and credit programmes aimed at supporting micro, small and medium-sized enterprises (MSMEs), which are delivered through partner banks.

The main modalities include:

  1. “Affordable Loans 5–7–9%” Programme – the flagship programme of NDI, providing entrepreneurs with access to concessional financing through partial interest rate subsidies funded from the state budget.
  2. State Portfolio Guarantee Programme
    NDI acts as a guarantor vis-à-vis partner banks, thereby reducing credit risks and expanding access to finance for MSMEs.
  3. Partial Interest Rate Compensation Programmes (Regional Level)
    Implemented in cooperation with regional and municipal authorities, these programmes further enhance access to affordable financing for MSMEs.
  4. Financial Leasing and Microfinance (for MSMEs)
    Delivered through partner institutions and entrepreneurship support programmes, these instruments broaden access to finance, particularly for businesses with limited access to traditional bank lending.

6. LICENSES AND PERMITS

General license for currency operations No. 2 dated 07.05.2006, issued by the National Bank of Ukraine.

7. Strategy

NDI conducted a strategic session with the participation of representatives of KfW Development Bank, the international consulting company Deloitte, and the Supervisory Board of NDI.

Following the session, participants developed a roadmap for the preparation of NDI’s medium-term development strategy. The strategy will define the institution’s mission and vision and will encompass the modernization of operational processes, as well as the strengthening of its financial and corporate frameworks, digital transformation, and a sustainable growth model.

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