The EBRD has confirmed the participation of Kyiv-based Ukrsotsbank in a funding program for agro- traders and producers with grain supplies as collateral and will open a US$10 million line of credit until August 2004.
Ukrsotsbank will use the money to offer loans of up to US$2.5 million, the Ukrainian banks said in a press release. Loans should not exceed 75% of the cost of the collateral. Loans will start being made this year.
Source: Interfax
