FIF - ProCredit Bank Ukraine SME LCY Loan



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

11 Aug 2020



PSD disclosed:

27 Aug 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.

Project Description

The increase by US$3 million the Bank's existing local currency loan agreement with JSC ProCredit Bank (Ukraine) from 2019 (the increased total loan amount will be US$25 million in UAH equivalent). The proceeds will be used to finance SMEs under the EBRD Financial Intermediaries Framework (FIF)

Project Objectives

The Loan proceeds will be used for on-lending to private micro-, small and medium sized enterprises (MSMEs) in Ukraine. The Project will help to (i) support the Bank's client and an established market leader in SME lending in Ukraine; (ii) facilitate the bank's SME business growth; and (iii) diversify and strengthen bank's funding structure with medium-term local currency resources. 

Transition Impact

ETI score: 60

The project contributes to the objectives of the FIF, supporting the following transition qualities.

Competitive: PCBU will expand its MSME portfolio, with a focus on reaching regional clients and attracting new clients.

Resilient:The project aims to ensure prudent lending practices and adequate portfolio quality. The project will provide local currency financing to MSMEs and strengthen balance sheet of PCBU through matched medium term funding in LCY. 

Client Information


JSC ProCredit Bank Ukraine (PCBU) is a 100 per cent-owned subsidiary of ProCredit Holding AG & Co. KGaA (PCH, the Group) and one of the market leaders in financing small and medium-sized businesses in Ukraine.

EBRD Finance Summary

EUR 21,621,974.00

US$ 3 million equivalent (the proposed loan increase amount)

Total Project Cost

EUR 21,621,974.00


The Loan is additional because of its:

Financing structure: medium-term funding in LCY, currently restricted in Ukraine. 

Standard-setting: clearly defined eligibility criteria for sub-borrowers as well as compliance with the EBRD environmental and social standards, covenants and reporting requirements, thus contributing to competitiveness and resilience of the financial sector as intended under the FIF Framework.

Environmental and Social Summary

Categorised FI (ESP 2014): PCBU will be required to comply with PRs 2, 4 & 9, implement and comply with the relevant EBRD's Environmental & Social (E&S) Risk Management Procedures and submit annual environmental and social reports to the Bank. PCBU's borrowers will be required to comply with applicable national environmental, health and safety and labour requirements.

Technical Cooperation and Grant Financing


Company Contact Information

null+380 800 50 0990

Implementation summary


PSD last updated

27 Aug 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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