PeerBerry repays another €1.4m in war-affected loans
European peer-to-peer lending platform PeerBerry has repaid another €1.4m in war-affected loans to its investors.
This brings the total amount of money recovered from Ukrainian and Russian loans to €20.9m, representing 41.62 per cent of the conflict-affected portfolio.
Read more: How European P2P lenders are protecting investors from war in Ukraine
Since Russia’s invasion of Ukraine on 24 February 2022, PeerBerry has been working to repay all loans that could be impacted by the war. The lender pledged to complete the repayments within 24 months, but now believes that it may be completed more quickly than that.
“With the amount of war-affected loans already repaid, PeerBerry’s business partners are significantly ahead of the initial plan to repay war-affected loans within two years,” a platform spokesperson said.
Read more: PeerBerry dedicates another €1m to repay war-affected loans
“So, we believe that all war-affected loans will be repaid much faster than planned at the beginning of the war.”
Of the €1.4m recovered, €1.2m will be used to repay Ukrainian and Russian short-term loans, while the remaining €200,000 will be used to repay real estate and business loans.
Read more: PeerBerry sees 16 per cent rise in lending volumes