Kreditprom Syndicated Facility

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The proposed project is USD 30 million syndicated loan to Kreditprombank under A/B structure. EBRD will retain USD 10 million of direct exposure with the balance to be syndicated to commercial banks. Kreditprom will use the syndicated loan proceeds to extend short- (from B-loan) to medium-term (from A-loan) loans to its private MSE/SME clients in Ukraine. This will be the first ever syndicated loan arranged by the EBRD for a Ukrainian bank. The maturity of the A-loan is 3 years and B-loan is 18 months. B-loan may be renewable for another 18 months subject to certain conditions. The loan will contribute to expand the commercially viable MSE/SME finance business in Kreditprom and increase competition in economy of Ukraine and enhance further financial intermediation. Kreditprom is a universal commercial bank and is the 15th largest bank in Ukraine with total assets of USD 683 million and equity of USD 68 million at the end of Q1 2006. USD 13 million under A-loan. EBRD will retain USD 10 million of syndicated senior loan with the balance to be syndicated to commercial banks. USD 42 million. Screened FI. Kreditprom will continue to apply the EBRD’s Environmental Procedures for Local Banks to all commercial lending activities including adherence to the Bank’s Exclusion and Referral List, appointment of a member of senior management with overall responsibility for the implementation of environmental procedures, and submitting annual environmental reports to EBRD. In the past TC has been received from the following donors: EU, US, and Dutch governments under UMLP II Component of MSE/SME Lending Framework. The funds were used to develop lending operations, train lending staff and for institution building in participating banks, including Kreditprom. Under the present operation the borrower will continue to receive technical assistance provided by the EU for its MSE lending operations. Mr.Vasiliy Perepelitsa, Vice-President, Tel.: +38 044 490 2776 Email: perepelitsa@kreditprombank.com