IFC's board approves USD 20 mln loan to Megabank
24 July 2009
The website of the International Finance Corporation said that its board approved granting a total of USD 20 mln in loans to Kharkiv-headquartered Megabank (MEGA). The IFC’s investment will consist of a USD 10 mln 3-year convertible senior loan and a USD 10 mln 7-year subordinated loan. Loan proceeds will be used to strengthen the bank’s capital and liquidity, and facilitate growth once the economic situation stabilizes. Megabank ranks as Ukraine’s #47-largest bank by assets. Andrii Parkhomenko: This is the second international organization to step up support to Megabank, after the EBRD said it would purchase a 25%+1 stake in the bank and granted it a EUR 20 mln loan.
