According to IFC websites, the proposed project consists of a senior unsecured loan of up to EUR30 million to a state owned PUBLIC JOINT STOCK COMPANY JOINT STOCK BANK UKRGASBANK, with an option to convert into up to 20 percent equity share of UGB to finance eligible Energy Efficiency / Renewable energy projects in Ukraine, including to SMEs. The tenor of the loan of up to five years with a bullet repayment. The option to convert the loan into UGB’s equity will be at IFC’s full discretion.
The most significant, expected project-level outcome is increased access to climate mitigation finance in Ukraine. Beyond the project-level outcome, IFC anticipates that the Project will promote greater market competitiveness through anticipated privatization and promotion of the climate finance products via capacity building, demonstration, and market enabling channels. Also, the investment will promote the sustainability through sustainable lending products that meet green lending standards establishing and promoting these standards in the banking industry through capacity building and demonstration channels.
A senior unsecured loan of up to EUR30 million, with an option to convert into up to 20 percent equity share of UGB to finance eligible Energy Efficiency / Renewable energy projects in Ukraine, including to SMEs.
JSB UKRGASBANK is a universal commercial bank, 95% owned by the Government of Ukraine. It is the fourth largest bank in Ukraine in terms of assets (almost US$3 billion equivalent as of YE2018 or 5% of the market). The Bank has wide presence in Ukraine, with 23 Regional offices, 248 branches and 4250 employees, servicing 1.9 million customers.
No contact information provided at the time of disclosure.
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