The National Bank of Ukraine (NBU) has allowed the Nordic Environment Finance Corporation (NEFCO) to open current accounts in the hryvnia in Ukrainian banks, according to the Web site of the National Bank.
According to the report, the corresponding changes were stipulated in NBU resolution No. 285 of July 16, 2013.
The decree also settled the mode of using such accounts when holding
operations on hryvnia credits, loans and guarantees with the residents
of Ukraine, which correspond to the framework agreement between the
government and the NEFCO dated September 17, 2009.
The NBU noted that earlier the International Finance Corporation had the right to use the hryvnia when funding projects.
In addition, the National Bank previously extended the mode of
operation of the correspondent accounts of the European Bank for
Reconstruction and Development (resolution No. 172 dated May 17, 2013).
The NEFCO international finance organization was established in 1990
by Denmark, Finland, Iceland, Norway, and Sweden. It funds a wide range
of environmental projects in Central and Eastern Europe.
