For the capitalization of “PrivatBank”, the state will borrow money

The recapitalization of the nationalized PrivatBank need another 38.5 billion UAH. Free money from the state, so they will borrow on the domestic market.

In the relevant resolution of the Cabinet stated that the Ministry of Finance takes part in the capital increase by purchasing additional shares of “PrivatBank” in the amount of 38 billion UAH 565 million in exchange for bonds of internal state loan. Securities of the Ministry of Finance will release in 17 years with an interest rate of income to 9.8% per annum.

Meanwhile it became known that the head of “PrivatBank” Oleksandr Shlapak after a six-month tenure as decided to quit.