EBRD may give 50 mln euro loan to Ukreximbank

MOSCOW. Dec 7 (Interfax) - The European Bank for Reconstruction and Development (EBRD) may issue a loan of up to 50 million euros to JSC State Export-Import Bank of Ukraine, Ukreximbank, for financing private corporate clients and municipalities in Ukraine affected by the crisis.

"The facility will provide much-needed medium-term financing to Ukreximbank and enable the bank to support its private corporate clients and municipalities leveraging on its strategic focus, proven expertise in corporate lending to critical sectors, and strong regional presence," Ukrainian media said on Wednesday, citing an EBRD press release.

The project will be supported by donor funded first loss risk cover in the amount of 25 million euros to be provided by the EBRD Crisis Response Special Fund under a specific window for the EBRD's Ukraine Response Package.

Ukreximbank, founded in 1992, is a 100% state-owned bank.

According to National Bank of Ukraine data, Ukreximbank was the country's third largest bank in terms of total assets (228.608 billion hryvni), or around 10% of all assets of the Ukrainian banking system, as of July 1, 2022 among the 68 banks that operated in Ukraine at that time.

Ukreximbank has 51 branches across Ukraine and two offices in London and New York.