Washington, 22 November 1996 (RFE/RL) - The World Bank has approved a loan of $60 million and 15 million deutschemarks (about $10 million) to assist Ukraine's export development program.
Ukraine's exports of goods and services totaled over $16 million in 1995, but World Bank economists say that total is expected to "grow significantly" during the next few years as reforms continue.
The money will be used to open export credit lines of $50 million and 15 million deutschemarks by the Ukraine Export-Import Bank to finance short-term imports of materials needed in the production of exports and to finance medium and long-term investment projects of export-oriented private and privatized firms.
In addition, the loan will provide technical assistance to Ukrainian firms in preparing plans for exporting goods and expert help to the Exim Bank itself by successful Exim Banks in other countries.