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EBRD Likely To Finance 10-20 Ukrainian Banks Acquiring Stakes In Them

The European Bank for Reconstruction and Development intends to finance 10-20 Ukrainian banks with possible acquisition of their shares, president of the EBRD Thomas Mirow told the press.

Mirow said that the financing will make up to USD 600 million.

The funds will be granted in the form of loans, subordinated loans or entrance into the statutory fund.

The EBRD president also said that the decision on provision of the financing may be taken within the forthcoming weeks.

Mirow also said that the EBRD will take in account the exchange rate during the financing of the Ukrainian banks.

He also expressed his concern over the situation in Ukraine and said that to overcome the crisis all the power branches should unite.

As Ukrainian News earlier reported, the European Bank for Reconstruction and Development intends to invest about EUR 1 billion into the projects in Ukraine in 2009.