Metal trader secures factoring deal
Leman Ukraine, the Kiev-based metal trader, has secured a factoring deal worth UAH 8.5m.
Leman Ukraine, the Kiev-based metal trader, has secured a factoring deal worth UAH 8.5m.
According to the Finance Ministry's calculations, payments to reimburse foreign state debt of Ukraine will be covered from new borrowings of the government, which in 2004 will make about $1.1 billion, the National Bank of Ukraine (NBU) reported in
Ukraine's nascent factoring market is dominated by just two banks and lack of awareness of the profitability of the business is hampering the sector's growth, according to a banking expert.
The National Bank of Ukraine (NBU) has reportedly formulated regulations on factoring activities by commercial banks.
Ukraine's state export and import bank Ukreximbank has signed a loan agreement worth CHF50 million (Ђ33m) with Switzerland's UBS AG Bank.
Growth in foreign direct investment (FDI) in the Ukrainian economy in the first quarter 2004 amounted to $216.3 million, which is 14.4% less than in the same period last year and 58.2% less than in the previous quarter.
The Financial Action Task Force on Money Laundering (FATF) has omitted Ukraine from its black list of non-cooperative countries.
The Ukrainian government and the National Bank have endorsed a programme for 2004 on fighting the legalisation of income obtained through criminal activity. The programme was endorsed by the Cabinet of Ministers’ resolution.
The European Bank for Reconstruction and Development is going to begin lending under mortgage projects in the Ukraine next year, EBRD country director for Ukraine Kamen Zahariev said.
The World Bank will lend Ukraine $30 million for the first stage of its private sector development program in the country.