EIB to issue EUR 20 m loan to ProCredit Bank Ukraine
2010-11-17 15:56:10
The European Investment Bank (EIB) is planning to provide a EUR 20 million loan to ProCredit Bank Ukraine in 2011, Head of the EIB Representation Office in Ukraine Tore Emanuelsson said at an annual conference of the Adam Smith Institute in Kyiv.
"A loan agreement will be signed next year. The purpose of the loan is to support projects to improve the environment and finance small- and medium-sized businesses," he said.
Emanuelsson said that funds would be granted for a period of over five years.
Kyiv-based ProCredit Bank was registered in late 2000, and is currently a medium-sized bank according to the classification of the National Bank of Ukraine.
The bank's stockholders are the European Bank for Reconstruction and Development (19.999%) and ProCredit Holding AG (80.001%).