OREANDA-NEWS. On 28 August 2009 was announced, that the World Bank (WB) announced that USD 400mn, first tranche of USD 750mn credit line, will be provided to Ukraine after the decision of WB Board of Directors on 17 September 2009. The loan is to be provided for 30 years at the interest rate of six-month LIBOR+0.17%. The second tranche of USD 350mn will be provided to Ukraine if all recapitalized banks are restructured, all banks keep 10% regulative capital standard, non-system banks are reorganized, the information on the bank's owners is disclosed. Additionally, the government should continue funding of Deposit Guarantee Fund.

Millennium Capital sees the news to be positive, since USD 400mn from the first tranche are expected to be spent on the banking system restructuring in order to satisfy the conditions for the second tranche provision. Also the funding of the Deposit Guarantee Fund will enable to continue the process of liquidation of the problem banks, favoring banking system rehabilitation.

Millennium Capital is an integrated financial services provider. Established in 2000 by a group of professionals with solid background in securities and corporate finance, Millennium Capital is now one of the major investment banking institutions.