EBRD names 5 Ukrainian banks it will support financially

The European Bank for Reconstruction and Development named the banks it will support financially: Bank Forum (FORM), Ukrsotsbank (USCB), Megabank (MEGA), Ukreximbank, and Ukrsibbank, said an article in today’s Delo newspaper, which cited Anton Usov, the Kyiv-based press secretary of the EBRD. According to Usov, the EBRD operating committee has approved aid to these five banks; the EBRD is also looking at providing assistance to eight others. Usov said that relevant agreements should be signed by mid-May. EBRD President Thomas Mirov said in mid-February that the EBRD was ready to allocate EUR 500 mln to recapitalize Ukrainian banks. Last week Interfax reported that the EBRD could give up to USD 100 mln to Bank Forum and quoted EBRD officials as saying that it was negotiating financial support to five Ukrainian banks: four regarding subordinated loan programs and one within the framework of support to its global parent.