UKRAINE BUSINESS NEWS: EBRD REPORT
"Ukraine - Recent Developments and EBRD's OperationalStrategic Response for Near Term"

EBRD FORECASTS POSTPONEMENT OF ALMOST HALF OF UKRAINIAN BANK'S FOREIGN LOAN REPAYMENTS DUE IN 2009
(Click here for Power Point copy of entire EBRD presentation made in Kyiv on Friday, May 29, 2009, by Anna Tokarz: "Ukraine - Recent Developments and EBRD's Operational Strategic Response for Near Term")

Interfax-Ukraine, Kyiv, Ukraine, Saturday, May 30, 2009

KYIV - Ukrainian banks will be able to reach agreement on putting off $10 billion in foreign loan repayments due in 2009, while the overall sum of such repayments is valued at about $21 billion, said Senior Banker at the European Bank for Reconstruction and Development (EBRD) Anna Tokarz.

As she said at a private investment forum organized by Raiffeisen Bank Aval and Raiffeisen Investment in Kyiv on Friday, her forecast is based on the expectations that most of foreign-based parent banks will prolong the loans issued to their Ukrainian-based subsidiaries.

Tokarz also unveiled the forecast prepared by the International Monetary Fund (IMF) under which banks with foreign capital will able to reschedule 90% of all foreign debt repayments due in 2009, while local banks will agree on putting off a mere 20% of the repayments. IMF experts predict the level of debt prolongation for corporations at 85%, including for multinational ones at 100% and the remaining ones at 70%. (For complete presentation see attachment to this e-mail.)
------------------------------------------------------------------------------------
EBRD REPORT: "Ukraine - Recent Developments and
EBRD's OperationalStrategic Response for Near Term"
Click here to see presentation by EBRD Senior Banker Anna Tokarz
Kyiv, Ukraine, Friday, May 29, 2009

1. Recent Development -----
2. Strategic Operational Priorities in 2009 - Four Pillars
                a. Financial Sector
                b. Energy/Energy Efficiency
                c. Corporate Sector
                d.  Transport & Municipal Infrastructure
3. Risk Assumption, Mitigants and Expected Impact of the EBRD Strategic Operational Response.
4. Conclusions