RLF - PCBU LCY Loan 2026 (EBRD-57724)

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
Approved
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
Sep 9, 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
ProCredit Bank JSC
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 34.90 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 30
Converted using 2026-09-09 exchange rate.
Bank Documents
Primary Source

Original disclosure @ EBRD website

Updated in EWS Nov 7, 2026

Disclosed by Bank Aug 5, 2026

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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 senior unsecured local currency denominated loan of up to EUR 30 million equivalent to be provided to ProCredit Bank Ukraine ("PCBU") in three equal tranches of EUR 10 million each (the second and third tranche provided on an uncommitted basis). This medium-term local currency funding will be provided under the EBRD's Resilience and Livelihoods Framework and FIF - EaP SMECI Framework and will be used by PCBU for on-lending to private SMEs in Ukraine. Up to EUR 7.5 million will be directed to finance SMEs' long-term investments under the EU4Business-EBRD Credit Line with Incentives (within a dedicated sub-limit assigned with a separate EBRD project number 57725). This will enable financing of long-term capital investments of SMEs 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 grant support in the form of investment incentives upon the completion of their investment projects.

The Project will help ProCredit Bank Ukraine to maintain a sustainable funding base during the crisis and provide continued access to finance for private businesses, including SMEs affected by the ongoing war on 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). PCBU is an existing client of the EBRD and performance on environmental and social (E&S) issues to date has been satisfactory. Annual reporting, and previous due diligence, demonstrate that PCBU has staff nominated to manage E&S issues and develops adequate E&S risk management procedures to be built into the credit appraisal process and appropriate monitoring for E&S issues both within the portfolio and within the institution itself.

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

A senior unsecured local currency denominated loan of up to EUR 30 million equivalent in three equal tranches of EUR 10 million each (the second and third tranche provided on an uncommitted basis).

 

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.

PROCREDIT BANK JSC (PCBU) is one of the market leaders in financing of SMEs in Ukraine which account for more than 99% of its loan book. With EUR 982M in total assets as of 1Q2026, PCBU was among top 16 out of 58 banks operating in Ukraine with ca. 1.3% market share.


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.

Oleksandr Povshednyi
+38044-590-10-00
https://procreditbank.com.ua/
107A Beresteiskyi Ave., Kyiv, 03115

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