According to the Bank’s website, the proposed investment consists of an unfunded risk sharing facility (RSF) with Raiffeisen Bank JSC for a portfolio of up to €150 million (c.US$162 million equivalent) consisting of term loans, guarantees, and other eligible facilities to medium-sized and larger companies (midcaps) in Ukraine. IFC’s risk participation will be up to €50 million (c.US$54 million equivalent), or 33% of the aforementioned midcap loan portfolio (the Project), including the possibility of IFC mobilizing third-party unfunded participation for the facility.The Project will benefit from a first loss guarantee provided by the Government of France and/or other donors under the Economic Resilience Action (ERA) Program for Ukraine, which will help Raiffeisen Bank to increase access to finance for underserved midcaps in Ukraine.

The Project has been categorized as FI-2 according to IFC’s Sustainability Policy. The expected portfolio to form the RSF will comprise medium Environmental and Social (E&S) risk investments with potentially limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures. The Project will not support any activities on the IFC Exclusion List, coal, and/or higher-risk business activities, that may include a) involuntary resettlement, b) risk of adverse impacts on indigenous peoples, c) significant risks to or impacts on the environment, community health and safety, biodiversity, cultural heritage, d) significant retrenchment, and/or e) significant occupational health and safety risks. 

An unfunded risk sharing facility (RSF). Total project cost is expected to be €150 million (c.US$162 million equivalent), including IFC’s investment of up to €50 million (c.US$54 million equivalent). 

Raiffeisen Bank is the fourth largest financial institution in Ukraine by total assets and the largest private bank in the country. Raiffeisen Bank is 68.21% owned by Raiffeisen Bank International AG (RBI), 30% of its shares are held be the European Bank for Reconstruction and development (EBRD), and the remaining 1.79% by minority shareholders. RBI is one of the largest banking groups in the Eastern Europe with leading market shares in many of the 13 markets it operates.

Raiffeisen Bank Joint Stock Company
Ruslan Spivak
Director: Institutional Clients, Investment Banking & Strategy
+380 66 222 29 43
fi@raiffeisen.ua
4A Almazova Street, 01011, Kyiv
https://raiffeisen.ua/en

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