Early Warning System

Countries

Ukraine

Geographic location 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

Proposed

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

May 10, 2023

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Ukrainian Railways PJSC

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Humanitarian Response
Industry and Trade
Infrastructure
Transport

The service or industry focus of the investment. A project can have several sectors.

Investment Amount (USD)

$ 210.98 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 200
Converted using 2023-03-07 exchange rate.

Project Cost (USD)

$ 210.98 million

Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 9, 2023

Disclosed by Bank Mar 7, 2023

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

A sovereign guaranteed loan of up to EUR 200 million, consisting of EUR 100 million to provide emergency capex financing to the JSC "Ukrainian Railways" (UZ) and EUR 100 million to provide capital structure support. The loan will facilitate the expansion of the cross-border capacity and improve railway connectivity corridors with EU, address border crossing bottlenecks and mitigate war impact through rehabilitation of the relevant railway sections and other critical infrastructure investments. The EBRD loan is expected to be supported by the G7/EU guarantees of up to 50%.

The Project will support the Company in addressing immediate critical needs to improve operations and ensure improved connectivity with EU, continue to provide vital services to people and businesses/private sector, maintaine logistics of key Ukrainian exports (including agricultural products) and critical imports. The financing would allow UZ to rehabilitate the key railway corridors on the border with EU and procure the rolling stock thereby providing a comprehensive solution for the Company to expand capacity on these rail corridors.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Ukrainian Railways PJSC is a vertically-integrated railway company fully owned by the Government of Ukraine.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Public Joint Stock Company Ukrainian Railway (Ukrzaliznytsia)	Client	Transport

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - Ukrainian Railways PJSC:

Volodymyr Shemayev - Director of Office for International Projects
Email: Shemayev.V.V@uz.gov.ua
Phone: +380443096847
Website: www.uz.gov.ua
Address: 5 J.Giedrozc St, Office 208, Kyiv 03150, Ukraine

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