Kreditprom Syndicated Facility

Location:

Ukraine

Project number:

37157

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

05 Sep 2006

Status:

Completed

PSD disclosed:

31 Jul 2006

Project Description

The proposed project is USD 30 million syndicated loan to Kreditprombank under A/B structure. EBRD will retain USD 10 million of direct exposure with the balance to be syndicated to commercial banks. Kreditprom will use the syndicated loan proceeds to extend short- (from B-loan) to medium-term (from A-loan) loans to its private MSE/SME clients in Ukraine.

Transition Impact

This will be the first ever syndicated loan arranged by the EBRD for a Ukrainian bank. The maturity of the A-loan is 3 years and B-loan is 18 months. B-loan may be renewable for another 18 months subject to certain conditions. The loan will contribute to expand the commercially viable MSE/SME finance business in Kreditprom and increase competition in economy of Ukraine and enhance further financial intermediation.

The Client

Kreditprom is a universal commercial bank and is the 15th largest bank in Ukraine with total assets of USD 683 million and equity of USD 68 million at the end of Q1 2006.

EBRD Finance

USD 13 million under A-loan. EBRD will retain USD 10 million of syndicated senior loan with the balance to be syndicated to commercial banks.

Project Cost

USD 42 million.

Environmental Impact

Screened FI.

Kreditprom will continue to apply the EBRD’s Environmental Procedures for Local Banks to all commercial lending activities including adherence to the Bank’s Exclusion and Referral List, appointment of a member of senior management with overall responsibility for the implementation of environmental procedures, and submitting annual environmental reports to EBRD.

Technical Cooperation

In the past TC has been received from the following donors: EU, US, and Dutch governments under UMLP II Component of MSE/SME Lending Framework. The funds were used to develop lending operations, train lending staff and for institution building in participating banks, including Kreditprom.

Under the present operation the borrower will continue to receive technical assistance provided by the EU for its MSE lending operations.

Company Contact

Mr.Vasiliy Perepelitsa, Vice-President,

Tel.: +38 044 490 2776

Email: perepelitsa@kreditprombank.com

 

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP 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. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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 how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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