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EBRD To Provide $134.5m To Ukrainian Bank

BBR Staff Writer Published 02 July 2009

The loan is expected restore confidence of the international investors in Ukraine and its banks

The European Bank for Reconstruction and Development (EBRD) is providing a $134.5 million loan to Ukreximbank. Part of the loan of up to $84.5 million will be syndicated to a group of commercial banks including: Standard Bank, Deutsche Pfandbriefbank AG, CALYON, Citibank N.A., London Branch, UniCredit Bank Austria AG, Bayeriche Hypo- und Vereinsbank AG.

The bank has reported that this is the first syndicated transaction in Ukraine’s banking sector since the beginning of the crisis that will contribute to the banking sector stability and promote lending to the real economy. The deal is considered to be a step forward to restore confidence of the international investors in Ukraine and its banks.

The European Bank, which earlier in the year said it stands ready to invest over €500 million in the Ukrainian banking sector in 2009, has already committed around €390 million for this purpose. The majority of this amount, of up to €300 million, has been committed to projects with locally-owned banks.