OREANDA-NEWS. On May 19, 2008 The German State Bank of Development "KfW" provided PLC "Megabank" with a credit line in the amount of USD 10 million for 5 years. The loan will be used to grant long-term financing for Ukrainian companies – representatives of SME with the aim of its productivity, competition and working places growth. The signing of the loan agreement took place in Kyiv on the 18-th of May in the press-centre of the "Ukrayinski Novyny" Informational Agency, reported the press-centre of Megabank.

The given project will allow Ukrainian SME to be credited in the volumes up to USD 500 000. Thus, there will be an additional support to this sector, which is so important for Ukrainian economy.

As the Senior Vice-President of KfW Entwicklungsbank, Mrs. Doris Koehn reported, the signing of the loan agreement with "Megabank" is an important stage of realization of the Common Programme for SME supporting, which is exercised by KfW worldwide, cooperating with the most professional bank-partners on locations. "The given credit line is a starting point in our long-run partnership with "Megabank". In the near future we intend to strengthen our representation in Ukraine, first of all, cooperating with Ukrainian financial institutions, which, as well as KfW, see its mission in supporting the middle class and are ready to develop long-run and multilateral partnership with SME, responding the needs of the market.

According to the words of Olena Zhukova, the Chairman of the Managing Board of PLC "Megabank", the attraction of the given loan will allow "Megabank" considerably to activate the crediting of SME, which is a basis to form Ukrainian middle class. "The exercise of the Programme for SME development was started by "Megabank" less than a year ago together with the European Bank for reconstruction and Development, and also with the German-Ukrainian fund. We are sure that, thanks to the launched cooperation with KfW, and also the before received financial and technical aid from prominent international financial institutions, the credits will become more available for small and medium-sized enterprises, and will increase the competitiveness of PLC "Megabank’s" products.

KfW Bankengruppe (KfW Banking Group) http://www.kfw.de/ supplies financial instruments, directed to support small and medium-sized enterprises (SME), environment protection, effective usage of energy and natural resources, and also export and project financing. KfW is a state bank, owned by the Federal Government of Germany (80%) and German Federal Lands (20%), possessing a stable basis for activity and is one of the biggest banks in Germany (assets as of 01.01.2008 were Euro 376 billion). The majority of KfW resources is attracted at the capital market and has the highest rating ААА. KfW Entwicklungsbank is one of the world leaders in microcrediting, economical and social infrastructure development of partner-countries and the bank fulfills its mission under the task of the FRG Government.

PLC "Megabank" is the universal bank, providing the full spectrum of financial services to corporate and private clients. As of 01.05.2008 the regional network of "Megabank" consisted of 188 subdivisions including: 3 subsidiaries, 1 representative office and 184 branches in 22 regions of Ukraine. The net wealth of the Bank amounts UAH 2 336 million, the own capital is UAH 318 million, the credit portfolio – UAH 1 729 million, the deposit portfolio for corporate clients – UAH 378 million, the deposit portfolio for individuals – UAH 786 million.