The European Bank for Reconstruction and Development (EBRD) arranged a 4-year syndicated loan of up to €80 million to the JSC State Export-Import Bank of Ukraine (Ukreximbank). The financing is structured as an A-loan of up to €40 million for the EBRD’s account and a B-loan of up to €40 million for the account of foreign commercial investors.
The proceeds will be used to finance “green projects”, renewable energy and energy efficiency private investments in Ukraine, compliant with the best industry standards for electricity generation and energy efficiency in terms of energy consumption, carbon emissions and air pollution. The financed projects will also comply with EBRD's green economy transition (GET) approach and environmental and social (E&S) eligibility criteria.
According to Ukreximbank’s Chairman of the Board Oleksandr Hrytsenko: “We believe this project will further enhance already strong position of Ukreximbank in the field of financing of renewable energy and energy efficiency projects. We are the first bank in the country, which introduced energy efficiency financing programme in 2007 and we continue working with the International Financial Institutions (IFIs), foreign banks and investors to modernise economy and make it more sustainable and environmental-friendly.”
Ukreximbank has a significant experience in raising funds through syndicated loan facilities, the first of which was arranged in 1998. We have been the main local financial sector player in the international capital markets since 2004.
The deal confirms Ukreximbank’s position of a leading and reputable banking counterpart in Ukraine, which effectively channels international financial resources to the domestic economy. Ukreximbank is strongly committed to financing of green energy projects, which will contribute to better energy mix and the sustainability of Ukraine’s economy.