EBRD extends new guarantee to Credit Agricole Ukraine to unlock €150 million

On 2 December, the European Bank for Reconstruction and Development (EBRD) extended a new portfolio risk-sharing facility to Credit Agricole Ukraine to enable new lending to Ukrainian borrowers amid Russia’s ongoing war.

Backed by the EBRD’s guarantee, Credit Agricole will lend a total of €150 million to businesses operating in critical industries, and micro, small and medium-sized enterprises (MSMEs) and mid-cap companies investing in energy generation, energy storage and energy efficiency projects.

This is the third portfolio risk-sharing facility that the EBRD has provided to Credit Agricole Ukraine since the start of Russia’s full-scale invasion of Ukraine.

Eligible sub-borrowers will also receive EU-funded technical assistance and investment incentives, such as grants upon completion of their investment projects as part of the EU’s EU4Business initiative. Higher levels of incentives will be provided for businesses and households most affected by the war (experiencing asset destruction, loss or relocation) and for sub-borrowers facilitating the reintegration into the workforce of war veterans, people living with disabilities, internally displaced persons and/or those located in territories most acutely affected by the war.

The EBRD has already allocated €75.4 million of EU grant support to Ukrainian MSMEs under the EU4Business-EBRD Credit Line, of which €2.25 million has been issued to projects through Credit Agricole.

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Press release