A Framework of up to €2 billion under the EBRD Resilience Package, a broad strategic approach of the Bank as a response to the war on Ukraine. The war of aggression by the Russian Federation and Belarus on Ukraine and its people is a human and geopolitical catastrophe which strikes at the heart of Europe. The Framework will be utilised for various types of financing instruments to private clients, sovereigns, municipalities, municipal owned companies and other state-owned enterprises and financial intermediaries (including state-owned banks) in Ukraine and nearby countries most affected by the inflow of Ukrainian refugees: Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Moldova, Poland, Romania, Slovenia and Slovakia (Affected Countries). The Sub-projects will be provided out of the Bank's ordinary resources, including the Bank's financing benefitting from donor guarantees.
The overall objective of the Framework is to help sustain the provision of services and safeguard business activities in Ukraine and the Affected Countries, with the ultimate goal of preserving livelihoods. For Ukraine, the Framework covers all sectors, with particular focus on energy security, vital infrastructure, food security and support to pharmaceutical supply chain. For the Affected Countries, the Framework will address refugee challenges and mainly covers the areas of: (i) energy security; (ii) municipal and national infrastructure; and (iii) liquidity through the capital markets and financial intermediaries.
The Framework is expected to support Ukraine and the Affected Countries through two primary transition qualities:
1) Resilient: by providing financing and other much-needed support to help clients weather the shock resulting from the war on Ukraine and with the key aim of mitigating negative impacts on energy and food security, or keeping economic activities going to the extent possible;
2) Inclusive: by preserving the livelihoods and strengthening the human capital and adaptability of people and businesses directly or indirectly affected by the war. There is an urgent need to alleviate the social and economic pressures derived from the inflows of Internally Displaced Persons (IDPs) in Ukraine and displaced people in Affected Countries, primarily women, children and the elderly.
Some Sub-projects under the Framework and particularly capital expenditure focused transactions i might as well be supporting other transition qualities, such as Green and Competitive, and this will be recognised in the suitable context of each transaction.
Private clients, sovereigns, municipalities, municipal owned companies and other state owned enterprises and financial intermediaries (including state owned banks) in Ukraine and Affected Countries. The clients and beneficiaries will include existing and new clients.
EBRD Finance Summary
Total Project Cost
As a result of the war on Ukraine, the market for liquidity and long-term financing in Ukraine is nearly closed, and is significantly constrained in the Affected Countries, with both local and international financial institutions tightening their risk appetite. The EBRD financing is provided in the extraordinary circumstances of the war and effectively bridges a liquidity gap as well as provides more financial security caused by unprecedented adverse market conditions and heightened uncertainties.
Environmental and Social Summary
Environmental and social risks and impacts associated with Sub-projects under the Framework will be assessed in accordance with the EBRD Environmental and Social Policy and the applicable Performance Requirements. Each Sub-project under the Framework will be categorised and will undergo separate Environmental and Social Due Diligence.
Technical Cooperation and Grant Financing
Technical assistance will be an important component of the support package, complementing investments. Technical cooperation will be designed on a project-by-project basis to meet specific needs of the borrowers, sectors, countries and people.
PSD last updated
29 Apr 2022
Further information regarding the EBRD’s approach to measuring transition impact is available here.
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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 email@example.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 firstname.lastname@example.org to get guidance and more information on IPAM and how to submit a request.