EBRD to extend USD 250 mln subordinated loan to Ukreximbank
6 April 2009
The European Bank for Reconstruction and Development announced on its website on Friday that it planned to give a ten-year USD 250 mln subordinated loan to state-owned Ukreximbank. The loan will be used to recapitalize the bank and promote lending to the real economy. The program is up for consideration by the EBRD board of directors in mid-May and then is subject to an agreement being concluded between the EBRD and Ukraine’s Finance Ministry and the National Bank of Ukraine. Ukreximbank was Ukraine’s #5 largest bank by assets as of Jan. 1, 2009, according to the NBU.
