By KYIV. Dec 19 (Interfax-Ukraine) – The European Bank for Reconstruction and Development (EBRD) will cover up to 50% of the credit risk on newly issued loans from UkrSibbank for a total amount of EUR15 million equivalent.
“The project will be used to support lending to Ukrainian private companies operating in the primary and secondary agriculture and other critical industries (inter alia food processing, retail, logistics), with the ultimate goal of preserving livelihoods in Ukraine,” the bank said.
It is indicated that this project was approved by the board of directors on December 7, the amount of the guarantee will amount to EUR7.5 million.
According to the National Bank of Ukraine, as of October 1, 2023, UkrSibbank ranks seventh in terms of total assets (UAH 137.47 billion) among 63 operating banks in the country. During the third quarter, its network of structural divisions decreased by eight, to 222 points. BNP Paribas SA (BNPP) owns 60% of the shares of the financial institution, and another 40% – the EBRD.
