As stated by the IFC, the proposed investment consists of an unfunded risk sharing facility with Credit Agricole JSC for a portfolio of loans to small and medium enterprises (SME) in the amount of up to €40 million in Ukraine, where IFC’s risk participation will be up to €20 million, or 50% of the aforementioned SME loan portfolio.
The Project will be processed under IFC’s Small Loans Guarantee Program, a programmatic approach to de-risk and scale up financing for SMEs in Ukraine and other eligible countries. The Program will benefit from a pooled first loss guarantee provided by the European Commission via European Fund for Sustainable Development and the IDA IFC-MIGA Private Sector Window’s Blended Finance Facility, which will help enable the Bank lending to the underserved SMEs in Ukraine and at affordable rates. In addition, the investment may potentially be supported by Economic Resilience Action (ERA) Program for Ukraine funded by the Government of the Netherlands in the form of a performance-based incentive, subject to Credit Agricole JSC achieving agreed targets, to incentivize increased finance for SMEs in the agriculture sector in Ukraine.
The IFC categorized the project as FI-2.
As stated by the IFC, Credit Agricole JSC is headquartered in Kyiv and operates in Ukraine through 148 branches serving 426,000 clients. With total assets of US$2.5 billion as of June 30, 2023, it is the 8th largest bank in Ukraine. Credit Agricole JSC is fully owned by Credit Agricole S.A., a listed bank on the Paris Stock Exchange and one of the largest banking groups in Europe with presence in more than 47 countries worldwide serving 53 million customers through 8,700 branches.
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384
Financial Intermediary - JSC Credit Agricole Bank:
Vladislav Berezhny - Director of Trade and Structured Finance Department
Phone: +38 044 490-14-77
Address: 23A, Volodymyrska Street, Kyiv 01001 – Ukraine
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