UNIQA Multi-Project Facility increase

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The proposed project is for an increase of the existing EUR 70 million Multi-Project Facility with UNIQA to EUR 150 million with an investment horizon of ten years. The MPF will provide equity funding for co-investments with UNIQA Versicherungen AG in the EBRD’s countries of operation in the context of establishment, development and acquisition of insurance companies. Under the proposed MPF, the Bank will acquire a 20% equity stake in UNIQA Osiguranje d.d. in Bosnia and Herzegovina. The investment will strengthen the capital base of the company and allow it to sustain its growth in the Bosnian insurance market. The Supervisory Board of UNIQA group is expected to approve the MPF in November 2007. The Bank has a long-standing relationship with UNIQA group. So far the Bank has invested in the Czech, Hungarian, Croatian and Polish subsidiaries of UNIQA. These investments have had a strong transition impact in the following areas: By supporting UNIQA in Bosnia, the EBRD will facilitate competition and promote private ownership in the domestic insurance sector. The project will consist of an amount of EUR 150 million under the MPF to be invested in the equity capital of UNIQA’s insurance subsidiaries in the EBRD’s countries of operation. Under the MPF, the Bank will acquire 20% capital and voting rights in UNIQA Osigurajne, Bosnia. EUR 150 million to be invested under the MPF. UNIQA has been managing its sub-projects under the MPF in accordance with the EBRD’s Environmental Guidelines for the Insurance Sector and will continue to do so in the future. These guidelines commit UNIQA to ensure that the insurance and investment operations of sub-projects comply with the Bank's Environmental Exclusion List and with applicable national environment, health, safety, labour and public consultation requirements. They also provide guidance for adequate environmental due diligence on new sub-projects and for the management of any environmental risks and liabilities associated with their insurance products and investments. None. Markus Maurer UNIQA International Insurance Holding Phone: + 43 1 211 75 3728 E-mail: markus.maurer@uniqa.at