Project description
and objectives:
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An equity investment of ECU 2 million in a start-up shared subsidiary of BNP and Dresdner Bank for the purposes of initiating operations in Ukraine.
The project aims to:
- improve the level of financial services provided in Ukraine;
- stimulate competition within the developing Ukrainian banking sector;
- provide necessary trade finance and payments services;
- assist two major Western banks in furthering an important investment plan in the former Soviet Union.
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Transition impact:
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The project will contribute to the availability of Western-quality trade finance, payments, and lending products and services. The banking market in Ukraine is under-served in these areas, and the entry of a new competitor will stimulate competition, thereby contributing to the overall strengthening of the sector and facilitating better financial intermediation.
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The client:
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BNP-Dresdner Ukraine will be a new shared subsidiary of the sponsors, BNP and Dresdner. The new bank will operate as a universal commercial bank in Ukraine.
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EBRD finance:
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The EBRD will participate in the equity investment with a subscription of ECU 2 million to purchase 20 per cent of the paid-in and registered reserves of BNP-Dresdner Ukraine. The sponsors will each contribute ECU 4 million to purchase 40 per cent of the new subsidiary.
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Total project cost:
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ECU 10 million.
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Environmental impact:
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The project has been classified FI and therefore does not require an environmental audit.
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Technical
cooperation:
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None
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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EBRD contact:
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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