FIF - ProCredit Bank Ukraine SME LCY Loan (EBRD-50907)

Countries
  • Ukraine
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Canceled
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Aug 11, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
JSC ProCredit Bank
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 26.11 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 21.62
Converted using 2021-01-18 exchange rate.
Project Cost (USD)
$ 26.11 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 21.62
Converted using 2021-01-18 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 18, 2021

Disclosed by Bank Aug 27, 2020


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Project Description

The increase by US$3 million the Bank's existing local currency loan agreement with JSC ProCredit Bank (Ukraine) from 2019 (the increased total loan amount will be US$25 million in UAH equivalent). The proceeds will be used to finance SMEs under the EBRD Financial Intermediaries Framework (FIF)

The Loan proceeds will be used for on-lending to private micro-, small and medium sized enterprises (MSMEs) in Ukraine. The Project will help to (i) support the Bank's client and an established market leader in SME lending in Ukraine; (ii) facilitate the bank's SME business growth; and (iii) diversify and strengthen bank's funding structure with medium-term local currency resources.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html