Ukrsotsbank receives second USD 25 mln tranche of EBRD loan

Ukrsotsbank (USCB) said yesterday that it had received the second tranche of a loan from the European Bank of Reconstruction and Development in the amount of USD 25 mln. The USD 75 mln ten-year loan was agreed to in May 2008. Proceeds are being used by Ukrsotsbank to grant loans for Ukrainians to construct and repair residential property. More than 50% of loans granted under the program will be to individuals outside of the city of Kyiv.