28 october 2016Ukreximbank successfully completed the program jointly implemented with the EBRD for energy efficiency support
The Bank once again confirmed its status as a reliable partner and continues to cooperate with the EBRD.
Ukreximbank successfully completed Ukraine Energy Efficiency Programme (UKEEP) jointly implemented with the European Bank for Reconstruction and Development (EBRD). Cooperation between the state-owned Bank and the EBRD under this Program was launched in 2007 through signing the agreement on financial support for Ukrainian businesses to implement energy efficiency and renewable energy projects.
Due to three credit lines from EBRD, each for the amount of USD 50.00 million, Ukreximbank has provided loans to domestic companies to implement over 150 energy efficiency investment projects in engineering, energy, agriculture, food industry, service sector, etc. in more than half of the regions of Ukraine, and energy efficiency financing became one of the strategic areas of the Bank.
A significant amount of UKEEP funds was provided by Ukreximbank to small- and medium- sized businesses. Loans for purchase of agricultural machinery such as tractors, combine harvesters, sprayers and various attachments thereto are of a particular demand in this segment.
Another important area of Energy Efficiency Programme in Ukraine is financing of renewable energy projects such as construction of solar and small hydropower stations, switching of boilers to alternative energy sources.
Under UKEEP, Ukreximbank has provided support to the enterprises participating in the Programme in sale of ERUs generated under the energy efficiency projects according to Joint Implementation procedures provided in the Kyoto Protocol to the United Nations Framework Convention on Climate Change.
In May 2007, in addition to the Energy Efficiency Programme, Ukreximbank launched Trade Facilitation Programme EBRD (TFP) jointly with the EBRD. The credit line under this Program repeatedly increased and currently is USD 270 million. It should be noted that JSC Ukreximbank is the largest among the banks in Ukraine that act as both issuing and confirming banks under the EBRD Trade Facilitation Programme. During the period of participation in the Trade Facilitation Programme the Bank has implemented projects for the total amount of USD 730 million.
The successful cooperation of JSC Ukreximbank and the EBRD created prospects for further development of their relationships and increase opportunities for implementation of strategically important projects for the country in the future.