Friday, June 23 2017 22:43 EEST
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Cabinet of Ministers decides to recapitalize PrivatBank for $1.5 billion
Cabinet, Ministers,  Decides, Recapitalize,  PrivatBank

The Cabinet of Ministers has decided to recapitalize PrivatBank for $1.5 billion. This was reported by Finance Minister Oleksandr Danylyuk during the press-briefing on Friday, according to Ukrainian News.

According to the minister, the first capitalization tranche amounts to $865 million.

The capital will be increased by issuing bonds.

As it is known, Ukrainian government has nationalized PJSC PrivatBank on December 18, 2016. It was explained that the decision was necessary, as the bank was facing difficult situation. International financial institutes have supported the decision.

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