EBRD To Lend 25 Mln Euro to Raiffeisen Bank’s Romanian Unit

The EBRD’s board of directors approved the financing package for Raiffeisen International's subsidiaries in the three countries in order to help address the impact of the international financial crisis on the states' real economies, EBRD said in a statement.

“The aim of the subordinated credits is to strengthen the capitalisation of Raiffeisen International's network banks in order to support their lending to enterprises,” the statement said.

Raiffeisen Bank Aval in Ukraine will receive the equivalent in U.S dollars of 100 million euro and the Russian unit of the bank will be provided with the equivalent in U.S dollars of 25 million euro. The three loans are subordinated and attributable to Tier 2 capital.

($=0.6756 euro)