Summary of Proposed Investment
Project Number
7038
Company Name
FIRST UKRAINIAN INTERNATIONAL BANK PUBLIC JOINT STOCK COMPANY
Date SPI Disclosed
May 10, 1996
Country
Ukraine
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Regional Industry FIG LAC & EUR
Environmental Category
FI
Previous Events
Approved : Jun 26, 1996
Signed : Jun 19, 1998
Invested : May 28, 1999
Project Description
Summary Of Project Information (SPI)
| Project Name | Ukraine-First Ukrainian International Bank (FUIB) |
| Region | Europe |
| Sector |
Projected Board DateJune 15, 1996
Company NameFirst Ukrainian International Bank
Technical Partner and/or Major Shareholders
Mees Pierson N.V. Azovstal Iron and Steel Works Azov Shipping Company Zayadko Coal Mine
Project Cost Including proposed IFC investment
US$10 million credit line all for IFC’s account.
Location of project and Description of site
The Bank is headquartered in Donetsk, an industrial center in Eastern Ukraine, and has seven branches throughout the country.
Description of Company and Purpose of Project
In its four years of operation, the Bank has emerged as one of Ukraine’s leading private commercial banks. The Bank’s technical partner, Mees Pierson, a Dutch merchant bank specializing in trade finance, has provided significant operational and managerial support to the Bank. IFC’s credit line will be used by FUIB to onlend to private Ukrainian business for equipment acquisition and plant modernization and expansion. Given the dearth of term finance for private companies in Ukraine, the credit line should contribute to strengthening the private sector.
Environmental Category and Issues
This is a category FI project according to IFC’s environmental review procedure. The Bank has implemented an environmental risk management system in connection with its recently-completed US$13 million credit line from EBRD. The Bank will ensure that sub-projects financed through IFC’s credit line will comply with the Government of the Ukraine’s environmental, health and safety requirements as well as applicable World Bank guidelines and policies.
| Date SPI sent to PIC | May 10, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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