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Ukraine Ukrainian banks to pick up payments to Nazi victims  Back to Home

Ukrainian banks to pick up payments to Nazi victims

By Interns. Published May 8, 1997 at 1:00 am

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The Cabinet approved the proposal in February aer Gradobank
stopped issuing payments and a scandal erupted over the bank's alleged
Poroshenko aide
misappropriation of over DM 100 million of DM 400 million ($250
Vashadze says corrupt
million) given by the German government to compensate 650,000
will be jailed  323
Ukrainian claimants.

The country's largest bank, Bank Ukraina, is responsible for replacing

approximately DM 75 million of the funds lost by Gradobank. Officials from the bank would not comment
on the specific mechanisms being employed to raise the money, but a statement issued Monday May 5 by
the Ukrainian Foundation for Understanding and Reconciliation, which monitors compensation
payments, said Bank Ukraina had already raised DM 1.3 million through operations in April, and was
expected to pay out DM 40 million – DM 50 million to claimants by the end of this year.

Some claimants at the head of Bank Ukraina's list have already received their money, according to the
bank's press service. Since April 11, the bank's branches in 14 regions have started making initial
payments from their own reserves, officials said, though no information has been made available
concerning the amount of money paid in this fashion.

In addition to Bank Ukraina, three other Kyiv banks Brokbiznesbank, VaBank and Prominvestbank – are
implementing similar fund-raising schemes, according to Yelena Mikheyeva of Bank Ukraina's
compensation payments commission.

And Gradobank itself, whose former president Viktor Zherdytskiy was arrested at the beginning of March
on charges relating to the alleged misuse of payments, is continuing to pay out money to claimants in and
around Kyiv. Around 750 Ukrainians received money from the slowly recovering Gradobank in March,
according to UFUR first depu chairman Stepan Kosiak.

Meanwhile, some questions have arisen as to exactly who is entitled to compensation payments, which
average DM 600 per person. A Bank Ukraina official who asked not to be named said the claimant
registers compiled by UFUR had become outdated for several reasons: some of the people listed have died,
some could not provide enough evidence that they had been forced laborers under the Nazis and others
had passport numbers which did not match the registers. As of April 1, 575,000 of the 650,000 total aid
claimants have been registered as eligible for payments. Over 480,000 people have already received
payments totaling DM 291 million.

'All this mess prevents us from being overly optimistic about the task Bank Ukraina has taken on,' the
official said.
 UFUR remains optimistic about the situation, however. 'We plan to complete compensation payments by
the end of 1997, which I think is quite realistic,' Kosiak said.

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