Government-Run KfW to Give Megabank Technical Assistance
OREANDA-NEWS. On October 31, 2008 Megabank hosted an independent financial advisor Dr.Dagmar Wassmuth at the HQ (Kharkiv), reported the press-centre of Megabank.
The visit was part of the technical assistance to Megabank from German government, with KfW as an intermediary. Within the month coming, Ms. Wassmuth will give Megabank practical advisory on strategy enhancement and business planning for YE2009-2011. She will also advise on enhanced branch management in line with the best global banking practices and principles. Likewise, Dr. Wassmuth will visit branches in Dnepropetrivsk, Kyiv and Lviv.
Technical assistance given is the follow-up of the partnership between Megabank and KfW, initiated this May by the USD 10 mln. loan agreement for SME lending purposes. The support will include consulting on 3-year strategy development, winning branch management and effective risk management. At KfW's request, Frankfurt School of Finance and Management will give assistance in issues relevant to risk management.
As well as KfW's technical assistance, Megabank is receiving technical assistance from EBRD through IPC mission on microfinance centers in Ukraine.