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Bank Aval will grant over $2 mln to JSC Melitopol Oil Extraction Plant within the framework of EBRD direct line
Bank Aval will grant a $2.017 million credit to OJSC Melitopol Oil Extraction Plant (southern Ukraine) within the framework of direct line, provided by the European Bank for Reconstruction and Development, press-service of Bank Aval has informed.
Spokeswoman for the bank has said that the recipient of the loan plans to invest it into expansion of production capacities. Duration of the investment project is 5 years; the interest rate is LIBOR+8 percent a year.
Bank Aval is currently providing the financing of long-term projects, using EBRD funds, provided to it within the framework of direct credit line, not supported by additional governmental guaranties. It is the only bank in Ukraine which has been granted a credit line like this.