RLF - RLG - Ukreximbank 2023

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

A Resilience and Livelihoods Guarantee ("RLG"), under the Resilience and Livelihoods Framework, in the form of an unfunded portfolio risk-sharing facility covering up to 50% of the credit risk in newly originated sub-loans with total value of EUR 40 million equivalent (the "Covered Portfolio") to be originated by Ukreximbank (the "Partner Bank") in Ukraine.

The Project will include a sub-limit under the SME Competitiveness Programme in the European Union's ("EU") Eastern Partnership ("EaP SMEC" sub-limit, assigned with a separate EBRD project number 54838) of up to EUR 8 million or 20% of the Covered Portfolio to finance long term capital investments of micro, small and medium sized enterprises ("MSMEs") to upgrade their technologies and equipment to EU standards, including investments in sustainable and green technologies (70% of EaP SMEC sub-limit), thereby enhancing businesses' competitiveness. Eligible sub-borrowers will also receive EU funded technical assistance and grant support in the form of investment incentives upon the completion of their investment projects.

Project ID 54754

Status Signed

Location

Ukraine

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

Victoria Masna
VMasna@eximb.com
+380442478014
https://www.eximb.com/
Joint Stock Company "The State Export-Import Bank of Ukraine" 127 Antonovycha Street 03150 Kyiv Ukraine

Project ID 54754

Status Signed

Location

Ukraine

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

26 Jan 2024

Disclosure date

17 Jan 2024

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."

RLF - RLG - Ukreximbank 2023 (Ukrainian) (PDF, 0.17MB)

Project description

Project objectives

The Facility will be used to support lending to Ukrainian private companies operating in the primary and secondary agriculture and other critical industries (inter alia food processing, retail, logistics), with the ultimate goal of preserving livelihoods in Ukraine.

Client information

THE STATE EXPORT-IMPORT BANK OF UKRAINE JSC

Ukreximbank is 100%-owned by the Government of Ukraine and is the third largest bank in the country as of 3Q2023. The bank has its head office in Kyiv and has a total of 22 branches and 28 sub-branches across the country as well as 2 representative offices in London and New York.

EBRD Finance Summary

EUR 10,000,000

Total project cost

EUR 40,000,000

Additionality

Response to the war in Ukraine: the Facility is provided in the extraordinary circumstances of the ongoing war on Ukraine, serving as a significant risk mitigating instrument to enable financing of critical industries.

Standard-setting: Ukreximbank is expected to endorse the Women Empowerment Principles (UN WEPs) to promote gender equality and women's empowerment in the workplace, marketplace and community

Environmental & Social Summary

Categorised FI (ESP 2019). Ukreximbank is an existing client and performance on environmental and social (E&S) issues to date has been satisfactory. Recent and previous E&S due diligence, demonstrated that the Company has a written Environmental Management Policy, has staff nominated to manage E&S issues and has adequate E&S risk management procedures built into the credit appraisal process. The Partner Bank will be required to continue to comply with EBRD's Performance Requirements (PRs) 2, 4 and 9; and submit Annual Environmental and Social Reports to the Bank. Ukreximbank will furthermore be required to apply the updated Exclusion List introduced with ESP 2019 as well as the Referral List.

Technical Cooperation and Grant Financing

Non-TC: The project will benefit from donor support as the first loss risk cover for potential defaulted sub-loans in the Covered Portfolio.

TC and non-TC under EaP SMEC sub-limit: MSME sub-borrowers will benefit from the EU funded financial incentives (up to 30 per cent of the lower of sub-loan disbursed amount or investment cost) for eligible sub-projects, while the bank will receive technical assistance from dedicated consultants towards investment projects preparation and implementation.

Company Contact Information

Victoria Masna
VMasna@eximb.com
+380442478014
https://www.eximb.com/
Joint Stock Company "The State Export-Import Bank of Ukraine" 127 Antonovycha Street 03150 Kyiv Ukraine

PSD last updated

17 Jan 2024

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.

Our story

How we invest in changing lives

What we offer for businesses

Search

RLF - RLG - Ukreximbank 2023

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

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)