The European Bank for Reconstruction and Development will give Ukraine’s state-owned Exports-Imports Bank, known as Ukreximbank, a $250 million loan to spur lending, Bloomberg reported.
The EBRD will provide the two-year subordinated loan to Kiev-based Ukreximbank, the London-based lender said in an e- mailed statement today. The sides expect to complete the agreement by early next week, according to the statement.
The EBRD, which provides loans to help develop market- oriented economies, said in February it is ready to invest more than 500 million euros in the Ukrainian banking industry this year.
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