Ukreximbank to receive USD 250 mln subordinated loan from EBRD this week

The European Bank for Reconstruction and Development confirmed on Saturday that it plans to give a ten-year USD 250 mln tier-II capital loan to state-owned Ukreximbank. EBRD expects the project will be finalized early this week. Up to USD 50 mln from the loan, will be used to finance energy efficiency projects, and about USD 50 mln will be allocated to export-oriented Ukrainian companies. EBRD highlights this is the bank’s largest-ever single investment in Ukraine. Ukreximbank is Ukraine’s #5 largest bank by assets as of April 1, 2009, with a 5.9% share of assets in the Ukrainian banking system.