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Aval Bank Started a Line of Credits, State Joint-Stock Company (SJSC) "Bread of Ukraine", for wheat exports
Aval bank, Kiev, started a line of credits SJSC "Bread of Ukraine" at the amount of 20 millin UAH as public relations agency of the bank informed.
The credit line will run 1 year for grain purchases with the aim of securement export shipments, the interest rate is 18% per year.
Grain mortgage at double dock-warrants will stand for credit backing (3rd class wheat).
Victor Gorbachev, the bank's head of the credit department, asserted that financing of SJSC "Bread of Ukraine" will help the company rectify grain shipments - that is one of the company's policy directions. Besides he considers that realization of such credit scheme will stimulate wide circulation of dock-warrants.