All agreed loans

Ukraine. JSC State Export-Import Bank of Ukraine

Date of loan: 2 Jul 2008
Country: Ukraine
Customer: JSC State Export-Import Bank of Ukraine
Amount in USD: USD 50 million
Amount in EUR: EUR 31.6 million
Maturity: 8 years
NACE sector / loan type: Loan programme
Business area: Financial institutions and SMEs

Environmental effect

This loan contributes to climate change mitigation: 100%

Project

The loan facility has been provided to the State Export-Import Bank of Ukraine (Ukreximbank) for financing, in particular, environmental projects in the field of energy efficiency, promoting the reduction of harmful emissions affecting NIB's member countries. NIB and Ukreximbank signed a memorandum of understanding in autumn 2006. Ukreximbank is a state-owned joint stock company established in January 1992.

Compared to the EU-25, Ukraine uses 3.3 times more energy to produce one unit of GDP. Energy is mainly being produced using fossil fuels, which causes significant airborne pollution. The energy saving and reduction of greenhouse gas emissions will largely benefit the country's manufacturing and construction sectors. The introduction of modern technologies in the manufacturing industries will help reduce energy costs and improve the quality of the output.

Sustainability summary

Given the small to medium scale of the subprojects eligible for this loan programme and the eligible sectors, the environmental impact of the subprojects is expected to be limited and manageable. Ukreximbank has no formal environmental policy, environmental management system or formalised procedures for assessing environmental aspects in their lending activities. Environmental aspects are handled in the bank's normal credit risk appraisal.

Press release

Северный Инвестиционный Банк предоставил Украине природоохранный заем