May 14 2014, 10:40 Source: APK-Inform Views: 1109

EBRD to issue bonds in UAH

The European Bank for Reconstruction and Development (EBRD) plans to launch the first-ever bond issue by the international financial institution in the local currency – UAH, declared Suma Chakrabarti, President of the Bank, on May 13.

He noted that the recent devaluation of UAH confirms the significance of such tool to finance Ukrainian enterprises in the national currency.

According to him, the EBRD spent many years of work to launch the initiative. It is already approved, and the Bank needs to go ahead and realize it. It is particularly important taking into account the current situation: businesses need access to financing in the national currency, because it is difficult to work with other currency, said S.Chakrabarti.

He also reminded that the Bank recently approved the program to support floating capital for existing Ukrainian customers at 150 mln EUR, which will assist to mitigate the effects of UAH devaluation.


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