On September 15, Deputy Minister of Finance Sergiy Marchenko participated in the ceremonial signing of an agreement between the Ukrgazbank and the International Financial Corporation (IFC). According to this agreement, the Ukrgazbank will receive a new trade funding facility amounting USD 20m.
The agreement was signed by IFC vice-president Dimitris Tsitsiragos and Kyrylo Shevchenko, the chairman of the Ukrgazbank.
“We are extremely pleased to see foreign companies invest in Ukraine seeing the significant potential of our economy. Taking into account the complicated global economic situation, receiving such loans and investments serves as a sign of trust of investors to the steps taken by the Government of Ukraine and confirms the correct course of the structural reforms in Ukraine as well as their efficiency and effectiveness”, Deputy Minister of Finance Sergiy Marchenko said.
“The new funding line will help ensure a steady trade funding flow to Ukraine making it easier for the bank’s customers to process their international trade transactions”, IFC vice president Dimitris Tsitsiragos commented.
The funds received under the signed agreement will help expand the financial back-up of foreign trade operations, open new markets for Ukrainian exporters as well as support the efforts aimed to modernize the economy and speed up its growth.