RLF-RLG-PrivatBank 2026 (UIF P2) (EBRD-57454)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
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
U
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
Jun 17, 2026
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
JSC Commercial Bank PrivatBank
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 305.80 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 259.5
Converted using 2026-04-20 exchange rate.
Project Cost (USD)
$ 972.20 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 825
Converted using 2026-04-20 exchange rate.
Bank Documents
Primary Source

Original disclosure @ EBRD website

Updated in EWS May 8, 2026

Disclosed by Bank Apr 20, 2026

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.

According to the Bank’s website, the project consists of a Resilience and Livelihoods Guarantee ("RLG") in the form of an unfunded risk-sharing instrument (the "Facility") partly covering the credit risk of new sub-loans with a total value of up to EUR 825 million equivalent (the "Covered Portfolio") to be originated by JSC Commercial Bank "PrivatBank" (the "PFI") in Ukraine.

The Facility will include two sub-limits with the Covered Portfolio of: (i) up to EUR 692 million under the Resilience and Livelihoods Framework ("RLF"), and (ii) up to EUR 133 million under the EU4Business-EBRD Credit Line with Incentives (assigned with a separate EBRD project number 57455). The Facility will be delivered in three tranches, with Tranche A committed upon signing of the Facility and Tranche B and C being uncommitted.

Under the RLF, sub-loans will finance broad working capital and investment needs of Ukrainian private businesses operating in key sectors supporting the livelihoods of Ukrainian businesses.

Under the EU4Business-EBRD Credit Line with Incentives, sub-loans will finance long-term investments of micro, small and medium-sized enterprises ("MSMEs"). This will enable financing of long-term capital investments of MSMEs to upgrade their technologies and equipment to EU standards, including investments in sustainable and green technologies (at least 70% of the sub-limit), thereby enhancing their competitiveness. Eligible sub-borrowers will also receive technical assistance funded by the EU and donor-funded grant support in the form of investment incentives upon the completion of their investment projects. Priority support will be given to targeted and vulnerable categories of sub-borrowers, including, among others, MSMEs that incurred war-related asset destruction or damage, veteran-led businesses, enterprises supporting the reintegration of internally displaced persons and persons with disabilities, as well as women-led and youth-led businesses.

The Facility will be used to support lending to Ukrainian private companies operating in the primary and secondary agriculture and other critical industries (inter alia food processing, retail, logistics), with the ultimate goal of preserving livelihoods in Ukraine.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Categorised FI (ESP 2024). PrivatBank is an existing client of the Bank and has demonstrated satisfactory environmental and social (E&S) performance under its current exposure and good progress on implementation of the E&S management plan.

If the EBRD's funding is used to finance renewable energy sub-projects, these sub-projects must meet the EBRD's E&S eligibility criteria for renewable energy sub-projects and other eligibility criteria outlined in the Policy Statement.

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

A Resilience and Livelihoods Guarantee ("RLG") in the form of an unfunded risk-sharing instrument (the "Facility") partly covering the credit risk of new sub-loans with a total value of up to EUR 825 million equivalent (the "Covered Portfolio") to be originated by the client.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
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.

State-owned PrivatBank is the largest systemically important bank in Ukraine with around 22.6% of market share by net assets at YE2025. It specializes in servicing retail and MSMEs clients through a country-wide network of around 1,1k branches and 7,3k ATMs and 10,1k self-service terminals. The bank serves around 60% of Ukrainian entrepreneurs with more than 930,000 active MSME clients. More than 40% of all Ukrainian businesses hold active accounts with PrivatBank.


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.

Carl Mikael Bjorknert
cancelyaria@privatbank.ua
+380737161131
https://privatbank.ua/en
Joint-Stock Company Commercial Bank PrivatBank Legal address: 1d Hrushevskoho Str., Kyiv, 01001, Ukraine Address for correspondence: 30, Naberezhna Peremogy str., Dnipro, 49094, 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

How it works

How it works