Amount of EBRD allocations to financial sector will make USD 200-300 million in 2012

2011-11-17 18:20:01

The amount of allocations of the European Bank for Reconstruction and Development (EBRD) to the financial sector of Ukraine in 2012 will make up USD 200 million - USD 300 million, senior banker of the European Bank for Reconstruction and Development Oleksandr Pavlov has said.

"In the financial sector, the volumes are (planned) to the amount of USD 200 million to USD 300 million... Approximately one third of this volume is trade financing, the rest is the line of medium-term crediting for small and medium-sized business and for financing energy efficiency projects. If possibilities and the need emerge to participate in capital... or support... by credits or other types of financing, we will be opened," Pavlov said.

In addition, according to him, total volume of financial resources, which the EBRD will invest in Ukraine, about EUR 1 billion, may be preserved at the same level next year as in the current year.

"There will be no substantial reduction. The operational strategy does not change. We do not see grounds to change anything, since our tasks is financing of private business, for which large resources are necessary. Since commercial banks, perhaps, will continue to credit weakly, demand for our financing will only rise. Therefore, we do not see the need to reduce (financing), we will invest even more with pleasure. All depends on how positive or negative will be the situation in the economy," Pavlov added.