Ukraine to raise USD 150m loan from World Bank.

By bne IntelliNews August 29, 2011
The World Bank has approved provisioning of USD 150mn additional financing loan for the Second Export Development Project (EDP 2).The project is aimed to support export and real sector growth by providing medium and long-term investment and working capital finance to Ukrainian private exporting enterprises. It also has to improve the ability of the domestic banking sector to intermediate financial resources to the enterprise sector by providing a wider variety of better quality lending products.The borrower and the main implementation agency remains the State Export-Import Bank of Ukraine (Ukreximbank). The loan will be provided to Ukreximbank as a LIBOR-based flexible variable spread loan repayable in 30 years, including a 6-year grace period, and will be provided a state guarantee by Ukraine.

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