Kreditanstalt fuer Wiederaufbau (KfW) of Germany has allocated a Ђ2.6 million loan to Ukreximbank, one of Ukraine's biggest banks, as part of a Ђ15.3 million, 10-year deal signed in 1998.
Government-owned Ukreximbank said in a press release that it had developed a programme to support small- and mid-sized private companies that was aimed at financing investment projects linked with the purchase of premises, equipment, transport means and the construction and upgrade of production facilities.
The bank offers loans to companies in which the government owns no more than 49% and with no more than 500 employees. The loans range from Ђ25,500 to Ђ510,000
from one to five years at 12.5% annually.
As at 1 October 2003, KfW had approved financing for 65 Ukreximbank projects, totalling Ђ13.9 million. The bank has already financed 91% of these projects. Current debts on open credit lines stand at Ђ6.3 million.
Source: Interfax
