Kreditprom Syndicated Facility

Location:

Ukraine

Project number:

37157

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board 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

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