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PREMIER MEETS WITH EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT

Released on September 28, 1995

Premier Roy Romanow met today with the European Bank for Reconstruction
and Development (EBRD) in London, England, to discuss the financial
support available for Saskatchewan companies looking at business
opportunities in Ukraine.

Romanow is leading a trade and investment mission to western Europe and
Ukraine which will focus on key economic sectors such as ag-biotech,
agricultural machinery, energy and cultural industries.

The European Bank for Reconstruction and Development was established in
1991 and is mandated to provide financial support to companies involved
in economic and political change in the countries of central and
eastern Europe. The EBRD uses a range of financing instruments such as
loans, equity investments and guarantees.

"Saskatchewan companies are examining specific projects in Ukraine in
sectors such as energy, agriculture, telecommunications and small
business development," Romanow said. "Our meeting helped to determine
what role the EBRD might play in these projects and what level of
support Saskatchewan companies can expect from the EBRD.

"The EBRD commitments to Ukraine have grown dramatically following the
success of political and economic reforms from $14.4 million in the
1992-93 fiscal year to $990 million committed in 1995.

"The EBRD has targeted agricultural service projects; rehabilitation of
energy, transport and telecommunications; and small business
development as priority areas for Ukraine. These are Saskatchewan's
strengths. I am encouraged by the commitments we received from the
EBRD and the Canadian director at the bank to work with Saskatchewan's
energy companies in particular on projects in Ukraine."

Romanow said the meeting was also a follow-up to the financial
development issues involving Ukraine discussed earlier this month with
officials from The World Bank in Washington.

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For more information, contact:

Lynn Gidluck
Media Relations
Regina
Phone: (306) 787-0850

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