|14 august 2018Ukreximbank expertise in "green" financing taken as a basis for the OECD study
The state-owned bank energy efficiency lending was highly appreciated by the Organization for Economic Cooperation and Development (OECD)
The OECD has completed an in-depth Access to Private Financing for Green Investments - Energy Efficiency and Renewable Energy Financing in Ukraine review. The results of the OECD macroanalysis of the economy and the performance of the banking sector of Ukraine from the perspective of demand for green investments and financing of sustainable energy, showed that commercial banks may and should play a more important role in providing an access to the green projects financing sources, however, under the existing conditions, their participation remains limited both in Ukraine and in other countries of the EU Eastern Partnership.
OECD draws attention to the substantial amount of green financing provided by The State Export-Import Bank of Ukraine, "since among the EU Eastern Partnership countries it is the largest partner of environmental programs implemented in cooperation with international financial institutions." It was emphasized that Ukreximbank "proved to be the most successful among all local financial institutions of the Eastern Partnership and the only one in Ukraine in the development of the sustainable energy lending product and in attracting of a range of international credit lines for support in its implementation." It is also underlined that, in cooperation with the World Bank, the EBRD, the EIB and other international financial institutions, Ukreximbank introduced a standardized "green" credit product, and the bank employees have considerable experience and significant practical skills in financing energy efficiency and renewable energy projects implementation.
The full version of the Report is available on the Organization's website.
Following the OECD publication, Mr. Oleksandr Hrytsenko, Chairman of the Board of Ukreximbank, emphasized that financing of the sustainable development projects has been a priority for the state-owned Ukreximbank for more than a decade, and it goes on expanding the financing of the green projects for corporate and SME customers within the framework of programs jointly implemented with the international financial institutions.