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09.07.2018 | 09:37

EBRD specified challenges for entry to Oschadbank capital

EBRD Representative didn't mention specific date of the bank's entry to Oschadbank capital.

The main but not the only obstacle for the EBRD to enter the capital of state-owned Oschadbank was absence of the Law on Corporate Governance Improvement in State-Owned Banks, which was adopted by the Parliament on July 5. 

It was reported to UNIAN by Managing Director for Eastern Europe and the Caucasus for the EBRD, Francis Malige. 

"It was one of the main obstacles but similar to any investment we still have a lot to do - we shall carry out evaluation, agree conditions, prepare contract," Malige said. 

Additionally, the law adopted by the Parliament didn't exclude Oschadbank from the list of state-owned assets which are not subject to privatization. 

"It's another important step," Malige added. As to him, it requires more amendments to the legislation.

The EBRD Representative didn't mention specific terms of the entry to Oschadbank: " We're still working. It's early to speak about the date."

At the same time he said the appointment of new supervisory board of Oschadbank shouldn't be bound by this very process. "The new law sets the supervisory board shall be appointed within the next few months," Malige explained. 

References in the article: ebrd, capital, oschadbank, challenges
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