Ukraine

The economic situation in Ukraine in 2007 was positive: It recorded a growth rate of 9.0% in 2006, 11.5% in 2007 and a forecast of 10.8% in 2008. The country s long-term economic prospects depend on acceleration of its market reforms. Although Ukrainian factoring is very young industry and it is a new method of working capital funding for companies, it shows rapid year-on-year growth from 2001 to 2007.

JSCIB UkrSibbank, has attracted a US$50m credit line from the European Bank for Reconstruction and Development.

Pivdenny Bank has received a syndicated loan for US$30m at LIBOR+2.4% annually.

The European Bank for Reconstruction and Development is providing a US$20m loan to Kharkiv based Megabank.

Polish Getin Bank plans to launch factoring operations in Ukraine.

One of the most noticeable trends in the Ukrainian financial market is the growing demand for factoring services. Ukrainian factoring volumes have increased more than

OTP Group plans to set up a new financial group in Ukraine in 2007 that will include factoring, leasing and

The European Bank for Reconstruction and Development (EBRD) is providing a US$42 m loan to Ukraine s Kreditprombank. It will comprise an A Loan for the EBRD's own account and a B Loan syndicated to seven financial institutions including

The World Bank's Board of Executive Directors has approved a US$154.5m loan for the Second Export Development Project (EDP2).The project will support export and real sector growth in Ukraine by

National Bank of Ukraine lowered the discount rate by