June 10, 2010. Credit-Rating, a nationally recognized credit rating agency in Ukraine has today announced that it upgraded to uaBBB+ (uaBBB plus) with stable outlook from uaBBB the long-term credit rating assigned to Kiev-based BM Bank LLC (‘bank’). To revise the rating Credit-Rating considered bank’s financial statements for 2008-2009 and 1Q2010 and its other inside information.

Credit-Rating notes that the introduction of a ban on raising funds in the construction sector before obtaining all necessary permitting documents for construction works will not considerably mitigate investment risks in the sector, as this ban repeats requirements set by the National Commission for Securities and Stock Market.

Credit-Rating has today published a monthly review of Ukraine’s economic development. The review contains evaluation of economy’s real and financial sectors, balance of payments, currency and stock markets, budget sector and state debt policy, and inflation.

Topfwell Consulting Ukraine Ltd. which brought to market the agency Bridge2Ukraine in May 2009 notes a growing interest in the agency’s services among the Western European producers.

November saw 1 rating assigned by Credit-Rating, 3 ratings have been upgraded, 1 rating have been downgraded, outlooks on 9 ratings have been revised, 48 ratings have been suspended, 5 ratings have been withdrawn.

The World Bank’s Board of Executive Directors today approved a loan in the amount of US$ 60 million for Additional Financing to the Hydropower Rehabilitation Project in Ukraine. The original loan for the Hydropower Rehabilitation Project in the amount of US$106 million was approved on June 21, 2005, and became effective on February 3, 2006.

VOLIA, the national Ukrainian infotainment provider announces that Eric Franke has joined the management team as COO/First VP as well as CEO Volia Regions. Volia Regions comprises of all companies and activities of Volia outside Kiev.

The European Bank for Development and Reconstruction (EBRD), the European Investment Bank (EIB) Group, and the World Bank Group* on Monday warned against complacency in the face of significant challenges that stand in the way of economic recovery in Central and Eastern Europe.

The World Bank’s Board of Executive Directors today approved the Programmatic Financial Rehabilitation Development Policy Loan 1 (PFRL 1) for Ukraine in the amount of US$ 400 million.

In a record year for regulatory reform worldwide, Eastern Europe and Central Asia led all regions in the pace of reforms. Doing Business 2010: Reforming through Difficult Times finds that 26 of 27 economies in the region reformed regulations to create more opportunity for domestic firms.