Project description
and objectives:
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The proposed project envisages a USD 65 million long-term loan to Ukrsotsbank for financing of long-term residential mortgages of individual sub-borrowers in Ukraine.
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Transition impact:
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The project will support the development of the Ukrainian mortgage financing sector, foster implementation of best international practices in mortgage lending (implementation of the EBRD Minimum Mortgage Standards) and support standardisation of mortgage product, which is pivotal for the successful development of the secondary mortgage market. The loan will improve the maturity mismatches in mortgage lending and increase access to mortgage loans in the regions of Ukraine.
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The client:
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Ukrsotsbank (“Ukrsots” and “the bank”) is the 4th largest bank in Ukraine with over USD 6.2 billion in assets The bank is part of UniCredito Group.
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EBRD finance:
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USD 65 million senior loan.
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Total project cost:
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USD 65 million.
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Environmental impact:
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Ukrsotsbank will implement the EBRD's Environmental Guidelines for Residential Mortgage Lending and submit annual environmental reports to the Bank. In implementing the Environmental Procedures, the Ukrsotsbank will assess potential environmental issues associated with its investments, which are required to comply, at a minimum, with local/national health, safety, environmental and public consultation requirements.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Oleksandr Buglak, Head International Banking Department
Tel: +380-44-230 32 24
E-mail: buglak@uksotsbank.com
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EBRD contact:
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Alexander Pavlov, Operation Leader: pavlova@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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