Since September 2022, OeEB has been supporting the project "Stand with Ukraine - Enhancing Emergency IT Infrastructure". The goal is to support Bank Lviv in reinforcing its physical and digital infrastructure to ensure the smooth continuity of operations.
|Project name||Stand with Ukraine - Enhancing Emergency IT Infrastructure|
|Sector||Banking and financial services|
|Service||Business Advisory Services|
|Project partner(s)||Bank Lviv, EFSE Development Facility, GGF Technical Assistance Facility|
Since February 2022, Russia's military invasion of Ukraine has triggered Europe's fastest-growing refugee crisis since World War II. Widespread destruction of infrastructure has resulted in daily supplies shutting down and businesses being unable to operate.
EFSE, GGF and Finance in Motion have therefore set up the "Stand with Ukraine" program to mobilise resources to support their partner institutions and other companies affected by the war.
OeEB has invested more than EUR 100 million in EFSE and GGF since 2008 and 2014 respectively. The funds provided by OeEB for the "Stand with Ukraine" program are intended to support Bank Lviv - a partner institution of EFSE and GGF, which is primarily focused on business customers in western Ukraine - in upgrading its backup cloud services, setting up a backup operation centre, relocating the staff of critical departments and training them on relevant safety and security aspects. This is to minimize the risk of data loss in the event of physical damage and ensure the continuity of operations.