Government approves state guarantees on $150 mln IBRD loan to Ukreximbank

14:37, 14.02.2017 1 min read

The Cabinet of Ministers at a meeting on February 14 approved state guarantees for a $150 million loan issued by the International Bank for Reconstruction and Development (IBRD) to Ukreximbank.

"These funds will be used to support small and medium-sized businesses when entering export markets. This is our priority and this is a practical instrument that businesses will use," Finance Minister Oleksandr Danyliuk said during the meeting.

Having considered the issue, the government decided to adopt a resolution defining the conditions and cost of the guarantees, as well as a draft regulation on completion of negotiations with the EBRD.

Ukreximbank was founded in 1992. Its sole owner is the state.

The bank ranked third among 93 banks operating in the country as of January 1, 2017 in terms of assets (UAH 160.304 billion), according to the National Bank of Ukraine.