UKRESCO II

Location:

Ukraine

Project number:

33832

Business sector:

Manufacturing and Services

Notice type:

Public

Environmental category:

C

Target board date:

27 Jun 2005

Status:

Completed

PSD disclosed:

10 Oct 2003

Project Description

The proposed project will provide a second EBRD loan to UkrEsco, a state owned energy service company established with EBRD support in 1998. The loan will enable UkrEsco to continue its energy saving activities in Ukraine. This involves implementing energy saving projects with industrial clients throughout Ukraine. The bank's funding will be used by UkrEsco to finance energy saving investments within clients' premises which are repaid on the basis of future energy savings.

Transition Impact

Transition impact will derive from both the expansion of UkrEsco's business and in supporting UkrEsco to achieve performance targets which will facilitate privatisation. The expansion of business will enable more private sector industrial companies to save energy on a sustainable basis using off-balance sheet financing and with state of the art technologies they do not themselves have the resources to implement. By supporting UkrEsco to meet prescribed commercial performance targets the Bank will be facilitating a successful privatisation as soon as possible.

The Client

The beneficiary is UkrEsco, a state owned joint stock company.

EBRD Finance

US$ 20 million sovereign loan, to be on-lent to UkrEsco.

Project Cost

US$ 20 million

Environmental Impact

UkrEsco will be required to ensure clients comply with EBRD environmental procedures and that its investments are in compliance with applicable Ukrainian environmental, health and safety legislation and submit an Annual Environmental Report to the EBRD.

Technical Cooperation

None for this project. The previous loan was supported by EU-Tacis.
 

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

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.