RF - Pravex Bank Ukraine

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

This project was approved in the context of the Bank's response to the Covid-19 pandemic. To avoid delays to the delivery of this project, the Bank's President granted a deviation from the ordinary timelines for PSD disclosure, as contemplated by Section V of the Directive on Access to Information. Details of the Bank's response to Covid-19 and this deviation can be found on our website. Access to Information. Details of the Bank's response to Covid-19 and this deviation can be found on our website.

The project entails a EUR 25 million equivalent senior loan to Pravex Bank guaranteed by the parent Intesa Sanpaolo S.p.A. The loan will be used for on-lending to eligible sub-borrowers, mainly small and medium-sized enterprises (SMEs), under the EBRD Resilience Framework.

Project ID 52269

Status Cancelled

Location

Ukraine

Business Sector

Financial Institutions

Notice Type

Private

Company Contact Information

Andrey Strygin
andrii.strygin@pravex.ua
+38 068 8076798
https://www.pravex.com.ua/en
9/2, Klovskyy Uzviz, Kyiv, 01021, Ukraine

Project ID 52269

Status Cancelled

Location

Ukraine

Business Sector

Financial Institutions

Notice Type

Private

Approval Date

01 Dec 2020

Disclosure date

03 Dec 2020

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

RF - Pravex Bank Ukraine (Ukrainian) (PDF, 0.35MB)

Project description

Project objectives

By targeting SMEs and more broadly corporates through the proposed facility, the EBRD will indirectly finance Ukraine's crisis-hit real economy clients.

Transition impact

ETI Score:70

ong>Resilient (Primary Quality)

The transaction will support economic recovery in Ukraine and its response to external shocks. It will contribute to the resilience of Pravex Bank by enabling it to continue sustainable lending to eligible sub-borrowers despite the challenges triggered by the economic fallout from the pandemic.

Competitive (Secondary Quality)

The project will support Pravex Bank to sustain portfolio growth at least in line with the market. The proposed project will channel much-needed funding support to real-economy clients helping to mitigate the economic consequences of the pandemic crisis.

Client information

PRAVEX BANK JSC

Pravex Bank is the wholly-owned subsidiary of Intesa Sanpaolo S.p.A. in Ukraine and is ranked 25th (out of 75 banks) by assets (EUR 201 million) and holding a 0.4% market share. Through 45 branches across the country, the bank offers full range of services to its growing client base. It is rated B ("stable" outlook) by Fitch on par with Ukraine's sovereign rating.

EBRD Finance Summary

EUR 25,000,000.00

Total project cost

EUR 25,000,000.00

Additionality

This crisis response project is aimed to bridge a liquidity gap due to adverse market conditions related to Covid-19 crisis.

Environmental & Social Summary

Categorised FI (ESP 2019). For the proposed project Pravex will be required to comply with EBRD's performance requirements 2, 4 and 9, implementing the EBRD's Environmental and Social (E&S) Risk Management Procedures which includes adherence to the EBRD's E&S Exclusion List and submission of Annual E&S Reports to the Bank. Pravex's borrowers will be required to comply with applicable national environmental, health and safety and labour requirements.

Technical Cooperation and Grant Financing

N/A

Company Contact Information

Andrey Strygin
andrii.strygin@pravex.ua
+38 068 8076798
https://www.pravex.com.ua/en
9/2, Klovskyy Uzviz, Kyiv, 01021, Ukraine

Implementation summary

PSD last updated

03 Dec 2020

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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RF - Pravex Bank Ukraine

Overview

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

Implementation summary

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)