Oschadbank signs the pact with EBRD for € 50 m

Oschadbank signs the pact with EBRD for € 50 m

25.11.2016 News

By the information of Interfax-Ukraine, the state  Oschadbank and the European Bank for Reconstruction and Development have signed the memorandum of the association about corporate management state bank support on the 25th of November 2016. The parties also have concluded the memorandum about supporting of 50 million euros due to a trade financing program.

As Oschadbank reported,the aide-memoire had been signed by Andrew Pyshnyi, the CEO, Aleksandr Daniluk, the Ministry of finance of Ukraine which was  the one party and  Francis Malige, the CEO of EBRD in South Europe and Caucasus, which was the another party.

According to memorandum conditions, Oschadbank will receive a complex package of technical support from the EBRD. At the first stage it will be directed on micro- small and medium business, the centralization and departments network optimisation, risk management and compliance.

According to information of EBRD, the project is implemented within the scope of  the wider efforts which were directed on  commercialization and preparation of Oschadbank for the subsequent privatisation. It is included in state banks reforming programs which authority of Ukraine has created and realised.

Read alsoEBRD reduces its financing to Ukrainian economy

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