MegaBank - Equity Investment

Location:

Ukraine

Project number:

39999

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

16 Jun 2009

Status:

Disbursing

PSD disclosed:

26 May 2009

Project Description

The EBRD is considering participation in the UAH 120 million capital increase of PJSC Megabank. The operation will strengthen Megabank's ability to respond to the challenges presented by the difficult economic and financial conditions facing the country.

Transition Impact

The expected transition impact of the project
comes from a successful stabilisation and strengthening of a regional bank and
continued support and encouragement of MSME lending in the country.

The Client

PJSC Megabank (the “bank”, “MGB”) is a
medium-sized (ranked 35) regional Ukrainian bank based in Kharkiv  with leading position in eastern Ukraine,
specialising in MSME and agri-lending and utilities payments processing... The
bank is owned by a local shareholder - Mr. Subotin (60.15%), EBRD (15%, since
2009), KfW (15% since 2009), IFC (6.02%, since 2010) and other minority
shareholders (3.85%).

EBRD Finance

Participation in the capital increase (EBRD’s
part UAH 18 million)

Project Cost

Total capital increase is of UAH 120 million.

Environmental Impact

Screened FI. Megabank is an existing client.
Under this capital increase  the bank
will continue to comply with Policy Requirements 2 and 9 which includes
adherence to the EBRD's Environmental and Social Exclusion and Referral Lists
and submission of annual environmental and social reports to EBRD.

Technical Cooperation

None.

Company Contact

Mr.Olexander Shypilov
 
Deputy Chairman of the
Management Board
 
+380 57 703 21 43

shipilov@megabank.net
 

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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