UniBank and EBRD signs an additional agreement expanding the TFP credit facility usage

The TFP credit resources in the amount of $1.5 mn were released to UniBank in 2002, APA reports.

Pursuant to the initial agreement, the TFP facility could only be employed in confirmation of LCs and guarantees, whereas the new agreement enables UniBank also to use the resources of the revolver line to finance export and import operations.

UniBank has a long and successful enough history of co-operation with the EBRD. Considering the above-mentioned facility, UniBank is in receipt of as many as five credit lines from the EBRD. Also in 2002, UniBank was lent a credit line in the amount of $1.5 mn towards SME on-lending; that credit line was doubled to $3 mn in 2003.

The EBRD was one of the financiers to lend UniBank a syndicated loan in the amount of $5 mn as a unique facility to the national financial system; the share of the EBRD in the said syndicated loan equalled $1.5 mn and the balance was lent by European banks.

In December last year, UniBank and the European Bank for Re-construction and Development signed two credit agreements for $2 mn for micro-finance purposes and for $5 mn for the relevant co-finance project.

In addition, a new credit agreement was signed in May this year that regulates the extension of the EBRD credit line in the amount of $2 mn. This credit line is intended to finance small and medium business projects with.