Union Trust Bank Limited
ÖÖEmpowering Sierra Leonean Commerce
It will be recalled that last year, a technical team from the Soros Economic Development Fund (SEDF) with headquarters in New York City, New York, United States of America, visited Sierra Leone to explore foreign direct investment opportunities in the private sector of the Sierra Leonean economy. Union Trust Bank Limited seized the opportunity and engaged the SEDF team in detailed technical discussions leading ultimately to legal and financial due diligence exercise.
Following these activities, the management now proudly announces, for the information of its customers and agents countrywide, that the Board of Directors of the Soros Economic Development Fund (SEDF) on Thursday 16th April 2009, sitting in New York City, approved an investment package for Union Trust Bank Limited in a total amount of US$5.000, 000.00 (Five Million United States Dollars) approximately Le 16.000, 000,000.00 (Sixteen Billion Leones). These funds will be deployed in the bankís equity with USD$2.500, 000.00 (Two Million Five Hundred Thousand United States Dollars) in support of the bankís Small- and Medium-Scale Enterprises (SME) portfolio.
The bank therefore takes this opportunity to encourage Small-and Medium-Scale business operators, particularly in agribusiness, to avail themselves of the benefits of its new product HOPE (Help Others Promote Enterprise) to advance the bankís mission of empowering Sierra Leonean Commerce.
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23 April, 2009
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Newspaper in Freetown, Sierra Leone.