EBRD to provide $50mn loan to Ukreximbank
2011-06-10 12:23:29
The European Bank for Reconstruction and Development (EBRD) is providing a 5-year senior loan of up to USD 50 million to JSC Ukreximbank, the EBRD said in a statement.
It is noted that the loan is aimed at financing sub-loans for sustainable energy efficiency investments by Ukrainian SMEs.
The EBRD says the project will benefit from partial loss cover mechanism funded by the EU NIF, which should provide additional incentive to JSC Ukreximbank to develop targeted lending programmes for the sector, which was severely affected by the crisis.
JSC Ukreximbank is a 100 per cent state-owned bank and is the second largest bank in Ukraine holding 7.7 per cent of total banking assets as of end 2010.