A senior unsecured loan of up to EUR 50 million under the Resilience and Livelihoods Framework in favour of JSC "The State Export-Import Bank of Ukraine" ("Ukreximbank", the "bank") for financing private corporate clients and municipalities in Ukraine affected by the war. This project was approved in the context of the Bank's response to the Russian-led invasion of Ukrainian territory in February 2022. 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 this deviation, and the Bank's response to this situation, can be found on our website.
The facility will provide much-needed medium-term financing to Ukreximbank during the wartime and enable the bank to support its private corporate clients and municipalities leveraging on its strategic focus, proven expertise in corporate lending to critical sectors, and strong regional presence.
ETI score: 70
The Project will support the Resilient and Inclusive TI qualities. The Resilient quality stems from Ukreximbank's reinforced lending capacity and improved and diversified funding profile via attraction of the medium- term funding. The Project will also support the Inclusive quality, which stems from the much needed financing support to private businesses and municipalities affected by the war and therefore by contributing to safeguarding their human and organisational capital, as well as their livelihood and that of their workforce.
THE STATE EXPORT-IMPORT BANK OF UKRAINE JSC
JSC "The State Export-Import Bank of Ukraine" is fully owned by the state and is the third largest bank in Ukraine in terms of assets with a market share of 10 per cent. It specializes in servicing corporate clients, financing international trade, and implementing IFIs' investment facilities. The bank has a head office in Kyiv and a country-wide network of 51 branches and 2 representative offices in London and New York.
EBRD Finance Summary
Total Project Cost
Response to the war in Ukraine: the Project is undertaken in the extraordinary circumstances of the ongoing war on Ukraine, enabling medium and long-term financing of private companies and municipalities in the country.
Environmental and Social Summary
Categorised FI (ESP 2019). Ukreximbank is an existing client and performance on environmental and social (E&S) issues to date has been satisfactory. Recent and previous E&S due diligence, demonstrated that the Company has a written Environmental Management Policy, has staff nominated to manage E&S issues and has adequate E&S risk management procedures built into the credit appraisal process. Ukreximbank will be required to continue to comply with EBRD's Performance Requirements (PRs) 2, 4 and 9; and submit Annual Environmental and Social Reports to the Bank. Ukreximbank will furthermore be required to apply the updated Exclusion List introduced with ESP 2019 as well as the Referral List.
Technical Cooperation and Grant Financing
Non-TC: The project will be supported by donor funded first loss risk cover in the amount of EUR 25 million will be provided by the EBRD Crisis Response Special Fund under a specific window for the EBRD's War on Ukraine Response Package.
Company Contact Information
Joint Stock Company "The State Export-Import Bank of Ukraine" 127 Antonovycha Street 03150 Kyiv Ukraine
PSD last updated
07 Dec 2022
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