OREANDA-NEWS. On July 28, 2009 Vice president IFC ("International Finance Corporation", IFC) Jyrki Koskeloand the chairman of the management board of PLC "Megabank" Elena Zhukova have signed an agreement about submitting to the bank the financing package. The signing took place in Kiev, in World Bank’s office. 10 million USD will be given to Megabank as a 4 year conversion loan and 10 more million USD – as a 7 year subordinated loan, reported the press-centre of Megabank.

This is the first investment of IFC in a regional Ukrainian bank. As per J.Koskelo, international financial organization usually concentrate their attention on Kiev, however the investments are needed in the regions. Therefore IFC collaborates with Megabank, which is a leading institution in Kharkov region and successfully works with small and medium businesses. Due to IFC monies "Megabank" will be able to enhance its activity in this direction, what is important, in particular, for creation of new jobs, mentioned Koskelo.

He also underlines that "Megabank" is a partner of IFC in the program of improvement of corporate governance. "This is a brilliant example of the bank, which made right steps, improved governance – and then came the money", - said Koskelo. He said that he is thankful to the bank, which became the IFC’s partner, and in the future joint steps will be made for Megabank to make even bigger contribution in the economy". J.Koskelo underscored, that he is pleased with the fact, that Megabank plans in the nearest future to sign agreement with EBRD.

According to the words of Megabank’s chairman of the supervisory board Viktor Subotin, the singing the contract with IFC – is an extraordinary event for the bank. He underlined that the guarantee of successful cooperation with international financial organizations, in particular, IFC, is a reputation and openness of Megabank. 

The chairman of Megabank’s management board Elena Zhukova said, that received from IFC financing will be channeled both for lending to existing clients of the bank and for attraction of new clients– representatives of small and medium businesses. Loans will be granted for 1-2 years for replenishment of working capital and for 3-5 years for acquisition of fixed assets. The amounts of loans will be set individually.

E. Zhukova has underlined that with the help of international financial organizations "Megabank" has financed more than 600 representatives of small and medium businesses for the total amount of UAH 300 million. Partners of Megabank are the World Bank (10 mln.USD), EBRD (18 mln.USD), bank "KfW" (10 mln.USD), German-Ukrainian foundation (5 mln.EURO).