14:20 19.01.2018

EBRD to provide $50 mln guarantees to UkrSibbank for corporate lending

1 min read
EBRD to provide $50 mln guarantees to UkrSibbank for corporate lending

 The European Bank for Reconstruction and Development (EBRD) is providing $50 million guarantee to UkrSibbank (Kyiv) for corporate clients lending, UkrSibbank has reported on its website.

According to the report, the agreement signed on December 22, 2017 will support business lending in Ukraine.

According to this agreement, the risk sharing total amount should not be more that 40% of the total lending amount or $ 50 million.

The Risk Sharing Facility signed with the EBRD would allow increasing of Ukrainian companies financing primarily involved to the agriculture industry.

"The EBRD and UkrSibbank will now cooperate under the Risk Sharing Facility and this is good news for many local corporates, especially in the agribusiness sector. This project will stimulate real sector lending and contribute to the development of financial services in the country," EBRD Director for Ukraine Sevki Acuner said.

UkrSibbank was founded in 1990. BNP Paribas S.A (France) owned 59.9996% of the bank's charter capital as of the beginning of January 2017, while the EBRD held 40%.

The bank ranked 7th among 88 operating banks as of October 1, 2017, in terms of total assets worth UAH 42.977 billion, according to the National Bank of Ukraine.

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