The Government Decided to Recapitalize Ukreximbank by Issuing Domestic Government Bonds

The Cabinet of Ministers decided to recapitalize Ukreximbank by UAH 6.8 billion through issuance of 15-year domestic government bonds to the bank's share capital at a yield of up to 9.3%. The relevant decision was made at the meeting of the Cabinet of Ministers on September 23.

"According to the NBU's proposal, the required amount of additional capital for Ukreximbank according to the results of the stress test is currently UAH 6.8 billion," said Yuriy Draganchuk, Deputy Minister of Finance for European Integration.

It should be noted that the Memorandum with the IMF privedes for the Ministry of Finance of Ukraine to issue domestic government bonds for up to UAH 20 billion for support of banks and Deposit Guarantee Fund. According to the government's decision, the rate of 15-year domestic government bonds should not exceed the yield of 9.3% per annum.