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EBRD president backs government decision to nationalize PrivatBank
Journal Staff Report

KIEV, Dec. 19 – European Bank for Reconstruction and Development President Suma Chakrabarti said that his organization is strongly supportive of the decision of the Ukrainian government to nationalize PrivatBank and to protect the bank’s depositors, both individuals and businesses.

"The nationalization which took place with the cooperation of existing shareholders will be combined with adequate recapitalization and liquidity back-up provided by the authorities to ensure the bank’s stable financial position and operation," EBRD said in a statement on Monday.




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