OREANDA-NEWS. December 22, 2011. "MEGABANK" has signed a contract with the investment fund "WorldBusiness Capital, Inc." (WBC) about granting the bank a 7-year credit line amounting to 10 million U.S. dollars. Funds will be directed to lending to small and medium businesses. Funding will be provided under the guarantee of the Corporation Overseas Private Investment (OPIC) – the U.S. government agency.

According to the Chairman of the Management Board of "MEGABAMK" Olena Zhukova, today Ukrainian business is in need of credit resources, especially high demand for them – the enterprises of the agricultural sector, industry and trade. "With this contract we are expanding the geography of international collaboration: now are our partners are even U.S. financial institutions", – said Olena Zhukova.

Reference. PJSC "MEGABANK" has been operating in the banking market since 1990. Among the shareholders of "MEGABANK" there are European Bank for Reconstruction and Development (EBRD), German state bank (KfW) and the International Finance Corporation (IFC).

Today, "MEGABANK" realizes 10 international long-term programs within the concluded credit agreements with EBRD, IFC, KfW, EFSE fund, German-Ukrainian Fund, the World Bank (under the subsidiary agreement with "Ukreximbank" on the export development program in Ukraine). The total amount of holdings of the bank in foreign markets equivalents to one billion UAH.

WorldBusiness Capital, Inc. (WBC) has successfully closed loans to small and midsize businesses in emerging markets throughout the world. In 2003 OPIC entered into a cooperative arrangement with WBC to expand support for U.S. small business participation in overseas projects.

The Overseas Private Investment Corporation (OPIC) was established as an agency of the U.S. government in 1971. It helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers.