RSF Midcaps Ukrsibbank Ukraine (IFC-49676)

Countries
  • Ukraine
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
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
B
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."
Borrower
Ukrsibbank 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)
$ 35.80 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 33
Converted using 2024-07-23 exchange rate.
Project Cost (USD)
$ 108.50 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 100
Converted using 2024-07-23 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 10, 2024

Disclosed by Bank Jul 23, 2024

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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 proposed investment consists of an unfunded risk sharing facility (RSF) with UKRSIBBANK Joint Stock Company (UKRSIBBANK or the Bank) for a portfolio of financing instruments to medium-sized and larger companies (midcaps) in the amount of up to €100 million (c.US$108 million equivalent) in Ukraine. IFC’s risk participation will be up to €33 million (c.US$36 million equivalent), or 33% of the aforementioned RSF portfolio (the Project), including the possibility of IFC mobilizing third-party unfunded participation for the facility.

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.

The Project has been categorized as FI-2 according to IFC’s Sustainability Policy. The expected portfolio to form the RSF will comprise low to medium 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.

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

An unfunded risk sharing facility (RSF). Total project cost is expected to be €100 million (c.US$108 million equivalent) with IFC’s maximum risk amount being up to €33 million (c.US$36 million equivalent).

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.

UKRSIBBANK is one of the largest banks in Ukraine by total assets, active in retail, small and medium enterprise (SME), corporate and specialized financing. UKRSIBBANK is a subsidiary of BNP Paribas SA (60 percent), one of the world’s largest financial groups listed on the Euronext Paris. The remaining 40 percent of the Bank’s shares are owned by the European Bank for Reconstruction and Development (EBRD).


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.

Ukrsibbank JSC
Anastasiia Minchenko
Leading specialist

anastasiia.minchenko@ukrsibbank.com
2/12 Andriivska street, Kyiv, 04070, Kyiv
www.ukrsibbank.com

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works