Raiffeisen Bank Aval the EBRD is financing in local currency for legal support Sayenko Kharenko

Kiev. 16 August. — Raiffeisen Bank Aval granted a loan in the amount of 514 million UAH for launch of the European Bank for reconstruction and development (EBRD) lending program for the Ukrainian companies in local currency. Legal Advisor of the transaction made by the firm Sayenko Kharenko.

Bank uses these funds to Finance its Ukrainian clients. Previously the EBRD has provided the Ukrainian companies loans exclusively in foreign currency, and recently, the national Bank of Ukraine has allowed international financial institutions and to provide hryvnia loans.

“We believe it — a landmark agreement for Ukraine, and are delighted to contribute to the EBRD in launching a program of lending in local currency that will allow the Bank to continue to support Ukrainian companies and contribute to the development of the Ukrainian economy», — said Victoria masnaa head of working with financial institutions Raiffeisen Bank Aval.

Partner of Sayenko Kharenko Nazar Chernyavsky he added: “We are very happy to support a longstanding client of Raiffeisen Bank Aval, in the implementation of this innovative agreement”.

Public joint stock company “Raiffeisen Bank Aval” offers a wide range of standard and innovative products and services over 2.5 million clients through a nationwide network, which contains 500 offices major cities and regional centers in Ukraine. In 2017, Raiffeisen Bank Aval received the award from Euromoney magazine as “the Best Bank of Ukraine».

the EBRD is the largest financial investor in Ukraine. With the beginning of the Bank's activities in the country 1993 year total liabilities’liabilities amounted to almost a 12.2 billion euros in the framework of 377 projects. EBRD — the international Bank, which supports the development of market economy, the private sector and entrepreneurial initiatives in the 37 countries from Morocco to Mongolia Estonia Egypt. The shareholders are 66 countries, the EU and the EIB.

the team of Sayenko Kharenko which acts as legal counsel for the transaction included senior associate Maria Cabal and associate Gleb Bukharin led by partner Sergey Cherniavsky.