EBRD

Trade Facilitation Programme

Ukraine Energy Efficiency Programme

Multilateral Carbon Credit Fund (MCCF)

EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT

Trade Facilitation Programme

Willing to broaden the possibilities to finance the customers’ external activity, Joint Stock Company the State Export-Import Bank of Ukraine (the JSC Ukreximbank) and The European Bank for Reconstruction and Development (the EBRD) signed sets of documents on the JSC Ukreximbank participation in the EBRD Trade Facilitation Programme (TFP).

The documents signed currently include:

• Revolving Credit Agreement (RCA), upon which the EBRD makes available to the JSC Ukreximbank a revolving loan facility for further financing of export-import transactions of its customers. Financing of up to 3 years may be channeled to pre-export, post-import and re-financing of factoring.
• Trade Finance Guarantee Facility, upon which the JSC Ukreximbank acts as an issuing bank of trade finance instruments against guarantees by the EBRD.
• Letter of Agreement with the JSC Ukreximbank as Confirming Bank, upon which the JSC Ukreximbank participates in the TFP by confirming trade finance instruments, issued by selected third banks, against guarantees by the EBRD.

Reference: The EBRD’s Trade Facilitation Programme promotes foreign trade with Eastern Europe and the CIS region. Through the programme, the EBRD provides guarantees to international confirming banks. The programme can guarantee any genuine trade transaction associated with exports from, or imports to, the EBRD’s countries of operations. More than 100 issuing banks in the region participate in the programme together with around 630 confirming banks globally.

More information available on http://www.ebrd.com/apply/trade/index.htm

Ukraine Energy Efficiency Programme

In April 2007, the Bank and the EBRD signed a loan agreement on Ukraine Energy Efficiency Programme (UKEEP) in the amount of USD 50 million to finance investment projects of private Ukrainian companies aimed at decreasing energy intensity and introducing modern technologies to improve their competitive positions.

The following types of sub-projects are eligible for financing within the Programme:

• industrial energy efficiency projects that facilitate reduction of energy intensity, including consumption reduction of natural gas, electricity, fuel, etc.; and
• renewable energy projects (e.g. using hydropower, windpower, solar energy, biomass and geothermal energy, etc.).

Under UKEEP, considerable attention is paid to environmental protection.

Disbursements of UKEEP funds commenced in April 2008. Following successful implementation of the Programme, in December 2008, the EBRD extended the loan facility to Ukreximbank by additional USD 50 million, designated for sustainable energy sub-projects of private Ukrainian companies.

Multilateral Carbon Credit Fund (MCCF)

Along with the EBRD/EIB Multilateral Carbon Credit Fund, Ukreximbank arranged carbon financing for its customers, stipulating purchase of greenhouse gases (GHG) emission reduction units (ERUs).

GHG emission reduction allows additional income from sale of ERUs under the Kyoto Protocol mechanisms.