RF - Pravex Bank Ukraine



Project number:


Business sector:

Financial institutions

Notice type:


Approval date:

01 Dec 2020



PSD disclosed:

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.

Project Description

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 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

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 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


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

Environmental and 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


Company Contact Information

Andrey Strygin
+38 068 8076798
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 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 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 compliance@ebrd.com. 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 ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.


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