OREANDA-NEWS. December 31, 2010. European Fund for Southeast Europe (EFSE) made with PJSC "MEGABANK" a loan contract for a five-year funding totalling USD 10 million.

As Deputy Chairman of the Management Board of "MEGABANK" Alexander Shypilov noticed, received from EFSE funds amounting to USD 5 million, bank uses to finance entrepreneurs and small businesses. Another USD 5 million will be spent on lending in agricultural sector - namely, to the development of farms of private farmers and agricultural enterprises engaged in crop production, livestock and agricultural products processing.

Reference: European Fund for Southeast Europe (EFSE) began operations in December 2005 and represents the first of its kind public-private partnership. Organised by the bank KfW, EFSE is the largest microfinance investment fund in the world by investment portfolio amounted to EURO 562 million. Aimed at stimulating economic development and prosperity in Southeast Europe, EFSE offers long-term instruments to local financial institutions for on-lending to micro and small enterprises, as well as low-income households. The Foundation has a strong base of shareholders and investors in the face of donor countries, international financial institutions and private institutional investors, including the European Commission, German Federal Ministry for Economic Cooperation and Development (BMZ), the government of Austria, Switzerland and Denmark, KfW, the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), Netherlands Development Finance Company (FMO), European Investment Bank (EIB), Austrian Development Bank (OeEB, "Sal. Oppenheim", "Credit Cooperatif" and "Deutsche Bank". To the family of shareholders of EFSE recently joined the first government of South-Eastern Europe - the Government of the Republic of Albania. EFSE works in Albania, Bulgaria, Bosnia and Herzegovina, Kosovo, FYR Macedonia, Moldova, Romania, Ukraine, Montenegro and Serbia.

PJSC "MEGABANK" has provided financial services to corporate and private clients and operated in the banking market since 1990. The bank's shareholders include international financial institutions: European Bank for Reconstruction and Development (EBRD), Credit institutions for reconstruction (KfW), International Finance Corporation (IFC). Bank's regional network includes 198 offices in 25 regions of Ukraine. Through its network 384 thousand customers are served. As of 01/12/2010, the bank's net assets amounted to UAH 3, 264 mln., loan and investment portfolio - UAH 2,509 mln., the bank's capital - UAH 816 mln, this year profit - UAH 1, 911 thousand.