EBRD gives Megabank USD 15 mln loan for SME lending

The European Bank for Reconstruction and Development signed an agreement with Megabank (MEGA) on September 23 to provide it with a USD 15 mln loan, which will be used to dole out loans to small and medium-sized businesses, Interfax said yesterday. Last month the EBRD and Germany’s KfW gave Megabank EUR 28.9 mln in financing in exchange for a 15% stake in the bank. The EBRD and KfW will obtain their stake during an additional share issue; subscription for the issue is running from September 18 to October 14. As a result of the share issue, Megabank’s charter fund will increase 43% to UAH 500 mln.