January 31, 2018 | Cbonds
WorldBusiness Capital, Inc. (WBC) announced the closing of an $8 million, 10-year commercial loan to Ukraine’s Bank Vostok. WBC’s loan is guaranteed by Overseas Private Investment Corporation (OPIC), the U.S. Government agency that helps American businesses invest in emerging markets. WBC’s OPIC-supported loan will enable Bank Vostok to expand its lending to local small and medium-sized enterprises (SMEs) in Ukraine that are involved primarily in the processing, distribution, and export of agricultural products.
Vadym Morokhovsky, CEO of Bank Vostok, observed, “What Ukraine’s economy needs currently is a healthy boost of SME development. Our bank is very pleased to have access to WorldBusiness Capital’s attractive long-term financing that will help grow our local companies, especially in the agribusiness sector.”
Rob Monyak, WBC’s Executive Vice President and Chief Lending Officer for Eurasia/Africa Lending, said, “Our loan facility for Bank Vostok furthers our support for well-managed regional banks in Ukraine that focus on providing much-needed banking services to SMEs. Bank Vostok’s client base is concentrated among exporters and suppliers to exporters. In this way, additional funding for Bank Vostok is a means to reach the enterprises that play a crucial role in generating hard currency and fostering economic growth in Ukraine.”
Company: Bank Vostok
|Full company name||Bank Vostok PJSC|
|Country of risk||Ukraine|