Raiffeisen Bank Aval provides UAH 400mln loan to IFC nominated in local currency

IFC took UAH 400mln (USD 15mln) facility maturing in 8years nominated in local currency in order to provide financing for Ukrainian companies. IFC plans to make loans more widely available in the market and increase maturity terms for the companies. IFC provided its first loan to Auchan Retail. The finance corporation will further make and structure loans according to the needs of its customers, told Jason Pellmar regional manager for Belarus and Ukraine at IFC. This is for the first time that IFC have provided loans nominated in local currency.