OREANDA-NEWS. June 10, 2008. The European Bank for Reconstruction and Development is planning to earmark over EUR 300 million to implement projects in Ukraine's financial sector within two future years, the EBRD Kyiv office's press release read.

The EBRD expects to extend the number of local banks to service such products as subordinate credits, financing of small and medium-sized businesses, trade, mortgage credits and crediting of energy-saving projects. Credits will be granted to establishments engaged in leasing and consumer crediting.

In April 2008, the EBRD gave a credit to the CJSC OTP Bank Ukraine, a daughter enterprise and a complete ownership of the Hungarian OTP Bank Plc, a subordinate credit to the amount of USD 65 million.

Over the whole period of the EBRD work in Ukraine (since 1994) about EUR 700 million were invested into financial sector projects, it is 21 percent of the whole financing volume rendered by the bank in the country.

The EBRD is the largest financial investor in Ukraine: by the present time, the bank undertook obligations with regard to allocating investments to the amount of over EUR 3.3 billion within over 160 projects.