OREANDA-NEWS. March 18, 2008. JSCIB UkrSibbank, Ukraine’s third largest financial institution and part of BNP Paribas Group, has attracted a \\$50 million credit line from the European Bank for Reconstruction and Development to develop its SME long-term lending activities.

This facility will be used for lending to Ukrainian small businesses for supporting their various projects from capital expansion to foreign-economic activity.

The EBRD loan will help JSCIB UkrSibbank extend long-term loans to small and medium businesses with the objective of increasing its share of the SME loan portfolio as well as being able to accommodate their investment and capital needs. JSCIB UkrSibbank has an extensive branch network of over 1,000 banking units and points of sale across Ukraine and is able to reach SMEs in all of the regions of Ukraine.

Oleksandr Adarich, Chairman of the Board of JSCIB UkrSibbank, noted: “Increased financing to the SME sector in Ukraine will help meet the growing demand for investment finance from local businesses and SME clients of JSCIB UkrSibbank. Improved access to finance for SME sector, which traditionally have had limited access to long-term funding, is expected to have a positive effect on the overall economic situation especially with funds being directed to the regions”.