Kyiv, 25 June 2008 – Baker & McKenzie announced it has recently acted as the Ukrainian law counsel to the International Finance Corporation (IFC) in connection with US$75 million secured loan facility to International Mortgage Bank (IMB), a specialized financial institution with a primary focus on the residential mortgage market in Ukraine.

IFC funds will be used to support the further development of mortgage lending to individual borrowers to finance purchase of residential properties in Ukraine. This secured loan facility will support the growth of IMB’s mortgage portfolio and expand access to credit for Ukrainians seeking to purchase homes or make home improvements. The loan facility is secured by the pool of mortgage loans earlier extended by IMB to its customers.

IFC is a private sector arm of the World Bank Group, which fosters sustainable economic growth in the developing countries by financing private sector investment and mobilizing capital in the international financial markets. The Kyiv office of Baker & McKenzie has been assisting IFC with its investment projects in Ukraine since its office opening and helped to attract IFC financing in different economy sectors with a total amount exceeding US$500 million.

International Mortgage Bank (IMB) is the first specialized housing finance company in Ukraine, which offers a variety of services ranging from housing purchase loans to housing improvement loans.

The Baker & McKenzie team was led by the Kyiv office Partner Glib Bondar, with key input from associate Andriy Nikiforov.

Glib Bondar, Partner in the Kyiv office of Baker & McKenzie, said: “We are pleased to have had the opportunity to advise IFC on this transaction. This transaction, which has been successfully completed in such challenging market conditions, again undoubtedly sustains our assertion on the trusted advice we have provided to our long-standing client for a number of consecutive years.”