MOSCOW, Feb. 12 - Russia's Bank for Development and Foreign Economic Affairs (Vnesheconombank, VEB), the largest shareholder in Kiev-based Prominvestbank, has issued a first $390 million tranche to the Ukrainian bank.

The opening of a $1 billion credit line was approved by the VEB supervisory council to realize a plan for the financial readjustment of the bank.

VEB owns a 75%-plus-three-share stake in Prominvestbank.

Volodymyr Krotiuk, head of the bank's provisional administration and a deputy chairman at the National Bank of Ukraine, said on Wednesday that VEB planned to provide the Ukrainian bank with $610 million in financial resources to support liquidity, including more than UAH 1 billion in the form of a subordinated loan.