G4G: RBI Ukraine

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

An unfunded guarantee of up to €75 million in local currency equivalent in favour of Raiffeisen Bank Ukraine (RBUA), a joint stock company incorporated in Ukraine. The guarantee will have an initial tenor of three years.

Project ID 51350

Status Complete

Location

Ukraine

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

Anna Kilmukhametova
anna.kilmukhametova@raiffeisen.ua
+380999000685
https://raiffeisen.ua
Raiffeisen Bank JSC 9 Leskova street, Kyiv, 01011 Ukraine

Project ID 51350

Status Complete

Location

Ukraine

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

10 Nov 2021

Disclosure date

24 Dec 2021

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.

G4G: RBI Ukraine (Ukrainian) (PDF, 0.48MB)

Project description

Project objectives

The guarantee will cover the risk of non-payment of local currency sovereign bonds held by RBUA. The guarantee will enable RBUA to make new sub-loans to private sector borrowers at a multiple of the guaranteed amount. At least €22.5 million in local currency equivalent will be allocated towards Green Economy Transition (GET) eligible sub-projects.

Transition impact

ETI Score:70

project will free up capacity for new lending in Ukraine to MSMEs and corporates. Furthermore, the project builds on policy dialogue activities under the Vienna Initiative platform, reinforces cross border banking and is aligned with Technical Cooperation (TC) activities that support local authorities in strengthening and aligning their regulatory and supervisory frameworks for banks with those of the EU. The expected transition impact of the project is derived from the Resilient and Competitive TI qualities.

Client information

RAIFFEISEN BANK JSC

is an existing client of the EBRD and the fourth largest bank in Ukraine in terms of total assets and the third largest bank in terms of performing loans. It is the largest bank in Ukraine with foreign capital. The bank's key focus is lending to agricultural producers, multinational companies, and exporters. RBUA serves around 2.8 million clients, including more than 3,000 corporate businesses, and some 50,000 MSMEs through a countrywide network of around 400 branches.

RBU is 68.3 per cent owned by Raiffeisen Bank International AG Austria (RBI) and 30 per cent by EBRD.

EBRD Finance Summary

UAH 2,298,607,500

Total project cost

UAH 2,758,329,000

Additionality

Additionality is achieved based on several factors:

- the EBRD offers a large volume instrument filling a market gap using an innovative financing structure on commercial terms not available from other market participants.

- the EBRD's involvement in the project is designed to trigger a change in Ukraine's regulatory and supervisory framework for banks.

- The project will support the commitment of a major EU banking group to the EBRD Region.

Environmental & Social Summary

Categorised FI (ESP 2019). RBUA will be required to comply with the EBRD's Performance Requirements 2, 4. It is expected that RBUA will apply the requirements of PR9 to its entire portfolio, including to the SME and corporate lending provided through the freed-up capital and as part of the Project. RBUA will need to implement the EBRD Environmental and Social Risk Management Procedures for Micro, SME and corporate lending and submit annual reports to the Bank. The project is consistent with the GET approach and the GET share is 30 per cent.

Technical Cooperation and Grant Financing

This project is closely aligned with the ongoing policy dialogue under the Vienna Initiative. A dedicated TC assignment in Ukraine will support the convergence of regulatory and supervisory frameworks for banks in Ukraine with EU standards.

Company Contact Information

Anna Kilmukhametova
anna.kilmukhametova@raiffeisen.ua
+380999000685
https://raiffeisen.ua
Raiffeisen Bank JSC 9 Leskova street, Kyiv, 01011 Ukraine

PSD last updated

24 Dec 2021

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

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either 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. OCCO will follow-up all matters reported. It will review all matters reported. 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, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. 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 (for example, 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 the 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 and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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G4G: RBI Ukraine

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)