Project description
and objectives:
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The proposed project consists of long-term financing to JSCIB «UkrSibbank» to support the bank’s lending to private small and medium-size companies in Ukraine. The project consists of a USD 50 million SME credit line for on-lending to local SMEs to be used for investment needs, export financing and working capital finance.
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Transition impact:
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The long-term financing received from EBRD will enable JSCIB «UkrSibbank» to expand its lending activity to small and medium size companies in Ukraine, which traditionally have had little or no access to long-term finance. Increased financing to the SME sector in Ukraine will help meet the growing demand for investment finance from local businesses. Improved access to finance is expected to have a positive effect on the overall economic situation and the level of employment especially with funds being directed to the regions.
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The client:
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JSCIB «UkrSibbank» is a universal commercial bank. It is the third largest bank in Ukraine, with total assets amounting to USD 5.4 billion and total equity of USD 590 million as at 30 June 2007. JSCIB «UkrSibbank» is part of the BNP Paribas Group.
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EBRD finance:
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The EBRD finance includes up to USD 50 million 5-year loan for on-lending to SMEs in Ukraine.
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Total project cost:
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USD 50 million.
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Environmental impact:
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Screened FI. JSCIB «UkrSibbank» will be required to comply with EBRD’s Environmental Procedures for SME Loans and for Intermediated Financing through Local Banks which require adherence to the Bank’s Environmental Exclusion and Referral List, compliance with the applicable national environmental, health and safety requirements and submission of an annual environmental report to the Bank.
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Technical
cooperation:
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It is expected that the credit line will be complemented with a Technical Assignment funded by the European Union. The TA funds will be used to enhance the internal capacity of JSCIB «UkrSibbank» and support the bank in its strategic objective to increase its exposure to the SME sector in Ukraine. The objectives of the TA will include review of the existing SME lending procedures, an increase of the existing product range available to SMEs as well as training of the bank’s SME loan officers in branches and points of sale.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Irina Perepaddya
Head of Financial Institutions
International Business
JSCIB "«UkrSibbank»" BNP Paribas Group
Tel./Fax: +380 44 201 2269
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EBRD contact:
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Svetlana Tsyba, Operation Leader: tsybas@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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