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The Black Sea Trade and Development Bank (BSTDB) is to make available the second medium-term micro and SME loan facility for US$12.5mn to Procredit Bank Ukraine (PBU).

The facility, which carries a tenor of three years, intends to finance sub-loans offered by Procredit Ukraine to micro, small and medium-sized enterprises in Ukraine.

This new facility comes in addition to previous credit lines extended by BSTDB to PBU in 2003 and 2004 at the total amount of US$7.5mn.

Founded in early 2001, Procredit Bank Ukraine forms part of a global Procredit group of 19 banks set up by EBRD, IFC, KfW and other private and public sector investors to provide financing to micro and SME customers in developing countries.