Ukraine's leading English-language newspaper since 1995

The European investment bank has decided to allocate 100 million euro to develop small and mid-sized business in Ukraine. The European investment bank has decided to allocate100 million euro to develop small and mid-sized business in Ukraine, the bank said.

"The funds are allocatedwithin a credit facility agreed between the European investment bank and the Forum commercial bank. Other100 million euro will be granted after the signing of the agreement," the European investment bank said.

The funds are allocated in the frames of the program for support of small and mid-sized businesses.

Since the beginning of its operation in Ukraine in 2006, the European investment bank has allocated465 million euro to Ukraine.

As earlier reported, in late 2009, the European investment bank decided to allocate loans worth175 million euro to finance the project on the construction of overhead electricity line in the south of the country and100 million euro to finance energy saving projects of small and mid-sized business.

As of January 1, assets of the Forum bank made up Hr 19,453.2 million, loans and clients' liabilities Hr 16,999.8 million, and equity capital Hr 1,866.5 million.

The bank suffered losses of Hr 664.557 million in 2009.

Major shareholder of the financial institution is Commerzbank (Germany) with 89.3% of shares in the bank.