EBRD supports ProCredit Bank Ukraine to unlock €60 million of energy financing

On 15 May, the European Bank for Reconstruction and Development (EBRD) announced  support to Ukraine’s businesses and residents through a new unfunded portfolio risk-sharing facility for ProCredit Bank Ukraine (PCBU), which will help to improve energy security.

Backed by the EBRD guarantee under its Energy Security Support Facility (ESSF), the PCBU will provide up to €60 million in subloans to private businesses and households that will help channel urgently needed investments into energy generation, storage capacity and energy-efficiency enhancements.

Up to 20 per cent of all subloans covered by the EBRD guarantee will support financing of long-term capital investments by micro, small and medium-sized enterprises (MSMEs) to upgrade their technology and equipment in line with European Union (EU) standards under the EU4Business-EBRD Credit Line. Residential sub-borrowers (households and housing associations) will receive up to 8 per cent of the total investments.

Higher incentives will be provided for businesses and households most affected by Russia’s ongoing war against Ukraine. This will include those impacted by asset destruction, loss or relocation, and sub-borrowers that are facilitating the reintegration into the workforce of war veterans, persons with disabilities, internally displaced persons and/or those located in territories most acutely affected by the war.

The EBRD facility will be backed by first-loss risk cover from France and the EU under its Ukraine Investment Framework.

This is the sixth time that the EBRD has provided a portfolio risk-sharing facility to PCBU since the start of Russia’s full-scale invasion of Ukraine.

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Press release