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IFC may arrange financing worth $15 mln for Agroprosperis Bank
KYIV. Sept 17 (Interfax-Ukraine) – The International Finance Corporation (IFC, part of the World Bank Group) can arrange a financing package of $15 million equivalent for Agroprosperis Bank (AP Bank, Kyiv) to support the bank’s lending program to private-sector small and medium enterprises (SMEs) in Ukraine, particularly those in the agribusiness sector and rural areas.
As reported on the IFC website, the corporation’s board of directors plans to consider the project on October 8 this year.
According to the materials of IFC, the financing package consists of an A loan of up to $5 million equivalent for IFC’s own account and B loan(s) and/or Hedged A Loan Participation (HALP) of up to $10 million equivalent to be mobilized by IFC from one or more B lenders.
According to the report, the loans will be of three-year tenor and denominated in either the U.S. Dollar, Euro or local currency.
Earlier it was reported that IFC could provide Alliance Bank (Kyiv) with a syndicated loan of $15 million to support the bank’s lending to private-sector small and medium enterprises (SMEs) in Ukraine, particularly those in the agribusiness sector, as well as help with a $10 million trade finance guarantee facility.
AP Bank, formerly Astra Bank, was acquired in 2015 by Agro Holdings (Ukraine) Limited, which is indirectly owned by NCH Agrobusiness Partners II LP. The fund’s investors are well-known international institutions from the United States and Europe, in particular the EBRD. The ultimate owners of NCH Capital are George Rohr and Moris Tabacinic.
Since 2016, the bank has been specializing in financing small and medium-sized enterprises focused on agriculture with land areas from 100 hectares.
According to the NBU, as of June 1, 2021, AP Bank ranked 52nd in terms of total assets (UAH 1.941 billion) among 73 operating banks.
