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Summary of Project Information (SPI) |
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| Project number | 7038 |
| Project name | First Ukrainian International Bank |
| Country | Ukraine |
| Sector | Finance & Insurance |
| Department | Global Financial Markets Group |
| Company name | First Ukrainian International Bank |
| Environmental category | FI |
| Date disclosed | May 10, 1996 |
| Status | Completed |
| Previous Events | Invested: May 28, 1999
Signed: June 19, 1998
Approved: June 26, 1996 |
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Summary Of Project Information (SPI)
| Project Name | Ukraine-First Ukrainian International Bank (FUIB) |
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| Region | Europe |
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Project No007038
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 |
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