FIF - Bank Lviv SME loan 2021



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

28 Sep 2021



PSD disclosed:

29 Sep 2021

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

A 4-year amortising senior unsecured loan of up to €10 million equivalent to be provided to JSC Joint Stock Bank Lviv for on-lending to private micro, small and medium-sized enterprised (MSMEs). The loan will be available for disbursement as a synthetic UAH facility. 

Project Objectives

The transaction will help Bank Lviv to (i) diversify its funding structure with medium-term local currency resources and (ii) support its MSME portfolio growth. At least 50 per cent of all financed sub-loans under the project are to be directed on a best effort basis to support projects compliant with EBRD Green Economy Transition (GET) approach. 

Transition Impact

ETI score: 60

Competitive: the company will expand its MSME loan portfolio with a focus on sustainable green financing of Ukrainian MSMEs; and

Resilient: the company is expected to maintain adequate loan portfolio quality.

Client Information


A regional MSME-focused bank in the Western Ukraine with total assets of US$ 180 million (#31 in the system, 0.3% market share) and a growing loan portfolio (predominantly MSME) of US$ 120 million as of end-1Q21. The bank has a head office in Lviv and 21 branches (15 in Lviv region and 6 in Kyiv, Lutsk, Uzhgorod, Ivano-Frankivsk, Rivne and Ternopil). 

EBRD Finance Summary

EUR 10,000,000.00

Includes €5 million committed tranche and up to €5 million uncommitted tranche.

Total Project Cost

EUR 10,000,000.00


Key sources of additionality under the project are:

- Financing structure: long term tenor supporting longer investments in local currency;

- Innovative financing structures: the structure promotes EBRD climate and environmental standards and climate risk considerations;

- Knowledge, innovation and capacity building: access to EBRD e-learning and Green Technology Selector will allow the company to gain basic knowledge and skills in structuring GET-eligible investments; and 

Standard-setting: The company is expected to endorse the Women Empowerment Principles (UN WEPs) to promote gender equality and women's empowerment in the workplace, marketplace and community.

Environmental and Social Summary

Categorised FI (ESP 2019). Bank Lviv is an existing client of the EBRD. The environmental and social (E&S) due diligence included review of the E&S questionnaire which was submitted by the client. An Environmental Social Monitoring Plan ("ESMP") which was agreed in relation to the previous transaction (DTM 50786) has largely been implemented and performance on environmental and social (E&S) issues to date has been satisfactory. The client now has an E&S policy and procedures in place to manage E&S risks in its lending as well as systems and policies to manage human resources and occupational health and safety in line with Performance Requirement (PR) 2 and PR4. Given the nature of the proposed project, Bank Lviv will be required to comply with PRs 2, 4 & 9, continue to implement and comply with the relevant EBRD Environmental & Social (E&S) Risk Management Procedures, and submit annual environmental and social reports to the Bank. Any potential renewable energy projects as part of the GET targets will need to follow the E&S eligibility criteria for wind, solar, bioenergy, geothermal and hydro projects, as applicable.

Technical Cooperation and Grant Financing

Non-TC: The project will benefit from the EU grant funds (via EU4Business initiative under the Action "Network of Business Support Centres in Ukraine'') that will be used to bring the all-in interest rate for the company to acceptable market level. 

Company Contact Information

Uliana Horodyska
+38 (068) 437 0579
1, Serbska str., Lviv, Ukraine, 79008

PSD last updated

29 Sep 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 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.


Share this page: