PROJECT

Projects

Summary of Investment Information

Project Number

41132

Company Name

UKRGASBANK JSB

Date SPI Disclosed

Aug 20, 2019

Country

Ukraine

Region

Europe

Projected Board Date

Sep 19, 2019

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Jun 12, 2021

Department

Regional Industry - FIG - ECA

Industry

Financial Markets

Previous Events

Approved : Nov 11, 2019
Signed : Jan 25, 2021
Invested : Mar 17, 2021

Sector

Commercial Banking - General

Project Description

The proposed project consists of a senior unsecured loan of up to EUR30 million to a state owned PUBLIC JOINT STOCK COMPANY JOINT STOCK BANK UKRGASBANK (JSB UKRGASBANK, UGB or the Bank), with an option to convert into up to 20 percent equity share of UGB to finance eligible Energy Efficiency / Renewable energy projects in Ukraine, including to SMEs. The tenor of the loan of up to five years with a bullet repayment. The option to convert the loan into UGB’s equity will be at IFC’s full discretion.

 

Associated Advisory Engagement

The Advisory Services is an integral part of this engagement as it paves the ground for the proposed investment. The IFC’s Sustainable Energy Finance project continues to support UGB in strengthening its green finance business and implementation of the eco-banking strategy.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation