URSA Bank and the European Bank for Reconstruction and Development signed a revolving credit line agreement as part of their trade financing program. The agreement was signed during the European Bank for Reconstruction and Development’s annual meeting that was held in Kiev on May 18-19, 2008, the bank’s press officer reports.

Based on this new contract, URSA Bank can get at least 60 million RUR (to be returned within five years’ time) to finance trade fixtures. The bank has already had a few similar agreements before, but this is their only agreement with the European Bank for Reconstruction and Development that allows for such a long loan period.