JSCIB UkrSibbank - SME Credit line
|Business sector:||Depository Credit Banks|
|Target Board date:||8 Jan 2008|
|PSD disclosed:||2 Nov 2007|
The proposed project consists of long-term financing to JSCIB «UkrSibbank» to support the bank’s lending to private small and medium-size companies in Ukraine. The project consists of a USD 50 million SME credit line for on-lending to local SMEs to be used for investment needs, export financing and working capital finance.
The long-term financing received from EBRD will enable JSCIB «UkrSibbank» to expand its lending activity to small and medium size companies in Ukraine, which traditionally have had little or no access to long-term finance. Increased financing to the SME sector in Ukraine will help meet the growing demand for investment finance from local businesses. Improved access to finance is expected to have a positive effect on the overall economic situation and the level of employment especially with funds being directed to the regions.
JSCIB «UkrSibbank» is a universal commercial bank. It is the third largest bank in Ukraine, with total assets amounting to USD 5.4 billion and total equity of USD 590 million as at 30 June 2007. JSCIB «UkrSibbank» is part of the BNP Paribas Group.
The EBRD finance includes up to USD 50 million 5-year loan for on-lending to SMEs in Ukraine.
USD 50 million.
Screened FI. JSCIB «UkrSibbank» will be required to comply with EBRD’s Environmental Procedures for SME Loans and for Intermediated Financing through Local Banks which require adherence to the Bank’s Environmental Exclusion and Referral List, compliance with the applicable national environmental, health and safety requirements and submission of an annual environmental report to the Bank.
It is expected that the credit line will be complemented with a Technical Assignment funded by the European Union. The TA funds will be used to enhance the internal capacity of JSCIB «UkrSibbank» and support the bank in its strategic objective to increase its exposure to the SME sector in Ukraine. The objectives of the TA will include review of the existing SME lending procedures, an increase of the existing product range available to SMEs as well as training of the bank’s SME loan officers in branches and points of sale.
Head of Financial Institutions
JSCIB "«UkrSibbank»" BNP Paribas Group
Tel./Fax: +380 44 201 2269
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