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Singapore, 1 of April, 2008 The Memorandum of Understanding was signed between JSC Ukreximbank and ECICS Limited (ECICS) that is an official ECA of Singapore and provides insurance cover for financing of supplies of goods and services of Singapore origin.

The Memorandum was signed by Mr. Viktor Kapustin, Chairman of the Board of JSC Ukreximbank and Mr. Lee Soon Kie, Group Chief Executive Officer of IFS Capital Limited Group, which wholly owns ECICS.

This Memorandum will enhance the development of the strategic cooperation between two financial institutions purported to support the trade and economic relations between Ukraine and Singapore. It outlines the main directions of cooperation in drafting the procedures, techniques and schemes of financing of goods and services from Singapore to Ukraine under ECICS cover.

Under this Memorandum, JSC Ukreximbank is provided the opportunity to expand the geography of projects to be realized under the well – known ECAs, including the Asian region.

About ECICS.
ECICS Limited is Singapore Export Credit Agency, which provides a wide range of services in insuring credits, bonds and guarantee business. It is a wholly – owned subsidiary of IFS Capital Limited, a worldwide recognized financial institution that is specialized in short-and long – term financing to enterprises of various kind of activity.

JSC Ukreximbank is 100% owned by the Government of Ukraine. 5th largest bank in Ukraine and one of the major and most profitable operators in the Ukrainian banking market. Prime Bank by range and volume of export-import banking products. JSC Ukreximbank successfully combines agent functions for the Government with commercial activities. Partner of the World Bank, EBRD, KfW, JBIC in Ukraine.