51531 - RSFMidcaps CAU

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Summary of Investment Information

Project Number

51531

Company Name

Credit Agricole Bank JSC

Date SPI Disclosed

May 27, 2025

Country

Ukraine

Region

Europe

Projected Board Date

Jun 27, 2025

Environmental Category

FI-2 - Limited

Status

Pending Disbursement

Last Updated Date

Nov 19, 2025

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Jun 27, 2025
Signed : Jul 7, 2025

Sector

Commercial Banking - General

Additional Project Attributes

Blended Finance

Project Description

The proposed Project consists of an unfunded risk sharing facility (RSF) with Credit Agricole Bank JSC (CAU or the Bank), covering a portfolio of up to €100 million of loans, guarantees and other eligible facilities to medium-sized and larger corporates (Midcap) in Ukraine. IFC’s risk participation in the RSF will be up to €50 million, or 50% of the portfolio. It is anticipated that eligible Midcap facilities extended to finance renewable energy and energy efficiency projects (Clean Energy Solutions) will represent approximately 30% of the portfolio, thereby supporting Ukraine’s energy security.

The Project is expected to be supported by Blended Finance contributors under the Economic Resilience Action Program (ERA) for Ukraine, as described in the Blended Finance section.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee	82.20
Loan
Equity

IFC's loan to the financial institution described in this SII is targeted for on-lending to the following sector(s):

Product Type	Use of Proceeds
Guarantee	Long Term Loans to Corporates

IFC's Definitions of Targeted Sectors can be found here.

Development Impact

The most significant expected project-level outcome is increased access to finance for Midcaps, in particular to those operating in agriculture, manufacturing and essential infrastructure services, as well as supporting Ukraine’s energy security by providing financing for Clean Energy Solutions projects in the country. Beyond the Project level outcomes, the RSF is expected to promote the resilience of the Midcap finance market in Ukraine through the demonstration and replication channels.

IFC's additionality is driven by its countercyclical role during crises, especially when the appetite of other lending institutions is subdued, through de-risking instruments for financial institutions serving Midcaps and providing comfort to Midcap finance providers and international and domestic investors. Additionally, to support the implementation of the RSF, IFC will provide operational implementation support to assist CAU integrate the risk mitigation product into its systems and procedures for immediate execution.

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Dummy Indicator	N/A		Not Available	Not Available	Not Available

E&S Category Rationale / Risks and Mitigation

The RSF portfolio will consist of eligible Midcap Facilities, including those for financing Clean Energy Solutions. The expected portfolio to form the RSF will comprise of low to medium environmental and social (E&S) risk investments with potentially limited adverse E&S risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures. The Project has therefore been categorized as FI-2 according to IFC’s Sustainability Policy.

The Project will not support any activities on the IFC Exclusion List, coal-related activities, hydropower plants, offshore winds farms, solar photovoltaic (PV) installations other than to eligible Midcap borrowers for own consumption, and 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. The main E&S risks and impacts of this investment relate to the clients having adequate systems and capacity in place to manage the operations being financed in line with the IFC’s applicable E&S requirements. For this Project, IFC’s applicable E&S requirements will be the IFC Exclusion List, the applicable environmental and social national laws and regulations, and screening out higher E&S risk transactions as contemplated in the IFC Performance Standards. The Bank will additionally be required to be in line with the life and fire safety requirements, and the requirements of IFC’s Performance Standard 2 on Labor and Working Conditions.

The Bank has dedicated Environmental and Social (E&S) staff and has established an Environmental and Social Management System (ESMS). On March 14, 2024, the Board of Directors approved the Environmental and Social Policy, which serves as a foundation for: (i) identifying and mitigating environmental and social risks within the credit process; (ii) supporting clients in adopting sustainable practices; and (iii) aligning the Bank’s operations with Credit Agricole (CA) Group standards.

In November 2024, the ESMS was enhanced with the introduction of the Environmental and Social Due Diligence (ESDD) procedure specifically for agricultural products. The procedure evaluates environmental, social, and governance factors to determine the level of ESG risk and assign an ESG rating. This rating influences the lending decision and may require additional expertise, especially for high-risk categories. The procedure includes regular monitoring and updates to ensure compliance with ESG standards. The bank will conduct periodic reviews and assessments to maintain the integrity of the ESG system. If discrepancies are identified in the ESG assessment, an Action Plan will be developed and included in the financing agreement. The bank will monitor the implementation of these plans and address any issues that arise.

Additionally, for the last year project with IFC, which was a Small and Medium Enterprises (SME) Risk Sharing Facility (RSF), the Bank had developed the "General Procedure to be Applied to the SME Facilities Included in the IFC Risk Sharing Portfolio." This procedure includes requirements to be aligned with local E&S legislation, IFC Exclusion List and description of high-risk activities and coal projects, which shall be excluded from financing. The Procedure complements the ESMS for alignment of the loans under the SME RSF with IFC’s environmental and social requirements.

For the proposed project, the client will need to expand its existing ESMS policy and procedures to encompass loans within the midcap Risk Sharing Facility. The Bank will carry out training for staff and share examples of the enhanced ESMS implementation, as indicated in the E&S Action Plan.

S.no	Title	Anticipated Completion Date	Status
1	Enhance ESMS	09/15/2025	Completed
2	Submit E&S training plan	09/15/2025	Completed
3	Carry out training for staff to implement the ESMS	12/15/2025	Completed
4	Submit ESMS implementation records	03/15/2026	Completed

Contacts

For Inquiries About the Project, Contact

Credit Agricole Bank JSC
Vladislav Berezhny
Director of Trade and Structured Finance Department
+38 044 490-14-77
Vladislav.Berezhny@credit-agricole.ua
Pushkinska street, 42/4 Kyiv, Ukraine 01004
https://credit-agricole.ua/

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Fax: 202-974-4384

IFC supports its clients in addressing environmental and social issues arising from their business activities by requiring its real sector clients to set up and administer appropriate grievance mechanisms and/or procedures to address complaints from Affected Communities in relation to environmental and social issues arising from IFC's clients' business activities. Since 2012, IFC's Financial Intermediary clients applying the Performance Standards are required to develop External Communications Mechanisms to receive and review inquiries or complaints from any interested party regarding the E&S risks and impacts of their operations.

For IFC projects that are active or under consideration, individual(s), or their authorized representative(s), who allege they have been or will be adversely affected by E&S risks or impacts arising from IFC's clients' business activities, may submit a complaint to IFC directly for consideration. When receiving an E&S complaint, IFC engages with complainants and works with its clients to find solutions to E&S concerns as quickly and efficiently as possible.

Complaints can be submitted to IFC online at www.ifc.org/escomplaints or by email to EScomplaints@ifc.org.

IFC complaint response is separate from and complementary to IFC’s clients’ project level grievance mechanisms and IFC’s Independent Accountability Mechanism (CAO). Lodging a complaint directly with IFC does not, at any time, restrict access to CAO.

Affected communities have unrestricted access to the Compliance Advisor Ombudsman (CAO), the independent accountability mechanism for IFC and MIGA. CAO facilitates the resolution of complaints related to IFC and MIGA projects and sub-projects, undertakes reviews of IFC’s and MIGA’s environmental and social compliance, fosters public accountability for their commitments, and enhances the environmental and social performance of IFC and MIGA.

Independent of IFC and MIGA management and reporting directly to the IFC and MIGA Boards of Executive Directors, CAO helps resolve issues raised about the environmental and social impacts of projects through a neutral, collaborative, problem-solving approach via its Dispute Resolution function. It also reviews IFC’s and MIGA’s compliance with environmental and social policies, assesses related harm, and recommends remedial actions through its Compliance function. Additionally, CAO provides advice to IFC, MIGA, and their Boards to enhance environmental and social sustainability performance and minimize the risk of harm.

Complaints may relate to environmental and social harm regarding any aspect of the planning, implementation, or impact of a project or sub-project, and can be made by any individual, group, community, entity, or other party affected or likely to be affected by the environmental or social impacts of an IFC- or MIGA-financed business activity.

Complaints can be submitted by any of the following methods:

Online form: available at https://www.cao-ombudsman.org/
Mail/Hand Delivery to: 2121 Pennsylvania Avenue, NW, Washington, DC 20433, USA
Voice mail: +1 202 458 1973
Email: cao@worldbankgroup.org
SMS, WhatsApp, Telegram, and Signal: +1 202 650 2627

CAO receives and addresses complaints in accordance with the CAO Policy, which can be accessed at: https://www.cao-ombudsman.org/policies-guidelines.

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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