RLF - PRS - PrivatBank - 2024

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An unfunded risk-sharing instrument covering up to 50 per cent of the credit risk in newly originated sub-loans with the total value of EUR 400 million equivalent (the "Covered Portfolio") to be originated by PrivatBank in Ukraine. The Project will include three sub-limits with the Covered Portfolio of: (i) EUR 175 million under the EBRD's Energy Security Support Facility (assigned with a separate EBRD project number 55728), (ii) EUR 165 million under Resilience and Livelihoods Guarantee product and (ii) EUR 60 million under the EU4Business-EBRD Credit Line with Incentives (assigned with a separate EBRD project number 55528). The facility will be provided in two equal tranches, each including EUR 200 million of the Covered Portfolio; the second tranche is uncommitted. Under the Energy Security Support Facility, sub-loans will finance energy generation, energy storage and energy efficiency sub-projects  to Ukrainian businesses 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 businesses' competitiveness. 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.