OREANDA-NEWS. January 24, 2011. Mykola Udovychenko, Chairman of the Board of Joint Stock Company The State Export-Import Bank of Ukraine (Ukreximbank) signed a JPY 8 billion Loan Agreement with Japan Bank for International Cooperation in Tokyo, reported the press-centre of Ukreximbank.

Japan Bank for International Cooperation (JBIC) has opened for Ukreximbank the second credit line in frames of the Loan Agreement between Ukreximbank and JBIC co-financed with the Bank of Tokyo Mitsubishi UFJ, Ltd. and Sumitomo Mitsui Banking Corporation in amount of JPY 8 billion.

The signing ceremony took place in Tokyo on January 18, 2011 in the presence of Viktor Yanukovych, President of Ukraine and Naoto Kan, Prime Minister of Japan in the course of the state visit of President Viktor Yanukovych to Japan. The Agreement was signed by Mykola Udovychenko, Chairman of the Board of Ukreximbank and Hiroshi Watanabe, President and CEO of JBIC.

The signing of the Loan Agreement will promote strengthening and deepening of cooperation between Ukreximbank and the leading financial institutions of Japan, create the favorable conditions for development of the business infrastructure of Ukraine through financial support of Ukrainian-Japanese projects focused on structural transformation of the country’s economy, modernization and technical improvement of the Ukrainian enterprises that, in its turn, will facilitate trade and investment activity between Ukraine and Japan. Opening of the second credit line to Ukreximbank once again demonstrated the high international business reputation of Ukreximbank and confidence of the major financial institutions of Japan.

Note:
Cooperation between Ukreximbank and JBIC began in 1995. It has developed in various fields in fruitful and harmonious manner on the principles of mutual benefit and understanding, particularly, in the field of financing of cost-efficient Ukrainian-Japanese project out of proceeds of the first credit line opened by JBIC to Ukreximbank in 2005 that was successfully utilized during its maturity period, as well as under the project of financing of the Boryspil State International Airport Development Project, which is of importance for Ukraine from funds of the Government of Japan under the Official Development Assistance Program.

About JBIC
Japan Bank for International Cooperation was established on October 1, 1999 through reorganization of the Export-Import Bank of Japan. On October 1, 2008, the date of official beginning of operation of Japan Financial Corporation (JFC), JBIC became the international arm of JFC. The mission of the bank is promotion of sustainable and balanced development of the Japanese and global economy through international financial transactions.