Ukreximbank Loan for RE/EE Financing



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

27 Jan 2021



PSD disclosed:

15 May 2019

Project Description

The increase of the EBRD's exposure by EUR 8.6 million ("B Loan" outstanding principal) under the existing A/B senior loan for renewable energy and energy efficiency (RE/EE) financing (the "Loan") in favour of JSC "The State Export-Import Bank of Ukraine" ("Ukreximbank"). 

The Loan was originally approved by the Board on 19 June 2019 and signed on 16 August 2019 in the total amount of EUR 80 million, out of which EUR 40 million was syndicated and EUR 40 million taken by EBRD.

syndicated and EUR40 million taken by EBRD.

Transition Impact

ETI score: 60

Supporting long-term "green" investments of private Ukrainian companies, compliant with the best industry standards and the EBRD's requirements in terms of energy generation capacity, carbon emissions, air pollution.

Client Information


JSC "The State Export-Import Bank of Ukraine" ("Ukreximbank") is fully owned by the state and is the third largest bank in Ukraine in terms of assets with a market share of 10 per cent. It specializes in servicing corporate clients, financing international trade, and implementing IFIs' investment facilities, including energy efficiency and export promotion lines. As of May 2019 Ukreximbank along with its head office in Kyiv, had 22 regional offices and 39 branches across Ukraine, and 2 representative offices in London and New York. 

EBRD Finance Summary

EUR 48,571,428.00

Total Project Cost

Up to EUR 80,000,000

Environmental and Social Summary

Categorised FI. Ukreximbank is an existing client, complies with the EBRD's Environmental and Social (E&S) requirements and submits regular reporting. For this new transaction, Ukreximbank shall continue to comply with the EBRD's Performance Requirements 2, 4 and 9; implement the EBRD's "Environmental and Social Procedures for Corporate, SME and Micro Lending" and to submit annual environmental and social reports to the Bank. In addition, Ukreximbank will ensure that each sub-loan for a renewable energy project fulfils the EBRD's Eligibility Criteria for Renewable Energy Projects. For small hydro power projects, sub-loans will be assessed, developed, operated and monitored in accordance with the EBRD's Environmental and Social Good Practice Note - Small Hydropower Projects. A written consent of the EBRD will be obtained prior to the approval of sub-loans requiring an Environmental Impact Assessment (EIA) under the national legislation or any 'Category A' project included in Appendix 2 in the EBRD Environmental and Social Policy. Category A subprojects must all also meet the requirements of the EBRD Performance Requirements 1 - 8 and 10 and where possible, Ukreximbank will provide a link on their website to relevant EIAs as per Performance Requirement 9.

Technical Cooperation and Grant Financing


Company Contact Information

Mr. Olexander Shchur, Member of the Board
+380 (44) 247-89-19
+380 (44) 247-89-28

PSD last updated

01 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 EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social 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 additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from 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 activities of the Bank 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 Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. 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 sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. 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 (e.g. 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 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; how to submit a Request for review; or contact IPAM  via email to get guidance and more information on IPAM and how to submit a request.


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