Provision of a three-year senior unsecured loan of RON 246 million to UniCredit Bank SA, Romania, for on-lending to eligible companies in Romania which have been directly or indirectly impacted by economic spill-over effects of the war on Ukraine.
The Facility will enhance the lending capacity of UniCredit Bank SA, a Romanian bank of systemic importance, and will be channelled for on-lending to businesses in Romania that have been directly or indirectly affected by economic consequences of the war on Ukraine through supply-chain disruptions and other shocks, with the ultimate goal of preserving livelihoods in the country.
ETI score: 65
The transition impact of the project stems from the following qualities:
Resilient - the project will support a systemic bank's resilience to market shocks and diversify its funding structure.
Inclusive - the proceeds of the EBRD loan will support Romanian businesses to remain operational and help them mitigate the economic consequences of negative shocks triggered by the war on Ukraine.
UNICREDIT BANK SA
UniCredit Bank SA is a Romanian bank of systemic importance, with a market share of 8 per cent by total assets as of YE2021. It is 98% owned by UniCredit SpA, Italy.
UniCredit Bank SA is rated by Fitch as BBB (stable) as of July 2022.
EBRD Finance Summary
Total Project Cost
Financing structure: EBRD financing provides (i) funding in local currency in a market with reduced RON liquidity and (ii) funding diversification in an environment of high market volatility.
Environmental and Social Summary
Categorised FI (ESP 2019): Unicredit Bank SA is an existing client of EBRD and will be required to continue to comply with PRs 2, 4 & 9, adhere to the EBRD's E&S requirements and submit AESRs to the EBRD.
Technical Cooperation and Grant Financing
Company Contact Information
Bd. Expozitiei Nr. 1F, Sect. 1, Bucuresti, Cod Postal 012101, Romania
PSD last updated
29 Jul 2022
Further information regarding the EBRD’s approach to measuring transition impact is available here.
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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).
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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 email@example.com to get guidance and more information on IPAM and how to submit a request.