RLF - ESSF - Ukrgasbank 2024

signed

An unfunded risk-sharing instrument partially covering the credit risk in newly originated sub-loans with the total value of EUR 150 million equivalent (the "Covered Portfolio") to be originated by Ukrgasbank in Ukraine. The Project will include two sub-limits with the Covered Portfolio of: (i) EUR 120 million under the EBRD's Energy Security Support Facility (assigned with a separate EBRD project number 55658), and (ii) EUR 30 million under the EU4Business-EBRD Credit Line with Incentives (assigned with a separate EBRD project number 55659). Under the Energy Security Support Facility, sub-loans will finance energy generation, energy storage and energy efficiency sub-projects to Ukrainian businesses as well as municipalities and state owned enterprises and households. All sub-borrowers will receive the technical assistance to facilitate their investments' structuring and implementation. Eligible residential sub-borrowers will additionally receive grant support in form of investment incentives upon the completion of their eligible investment projects. Under the EU4Business-EBRD Credit Line with Incentives, the EBRD and the EU support investment projects of local small and medium enterprises ("SMEs"). The EBRD enables financing of long-term capital investments of SMEs to upgrade their technologies and equipment to EU standards, including investments in sustainable and green technologies (at least 70% of the sub-limit), thereby enhancing competitiveness of businesses. Eligible sub-borrowers will also receive technical assistance funded by the EU and grant support in the form of investment incentives upon the completion of their investment projects.