The International Finance Corporation (IFC) may provide Zaporizhia with a $55 million long-term loan to finance a package of initiatives aimed at improving energy efficiency, infrastructure development and transport logistics.
The board of directors plans to consider this project on February 15, 2021, the bank said on its website.
IFC plans to provide Zaporizhia with up to EUR 36.7 million of a loan from its own funds and to organize another EUR 18.3 million through the Managed Co-Lending Portfolio Program (MCPP).
It is assumed that the funds will be used for the installation of an intelligent traffic control system, street lighting and modernization of control centers, the purchase of electric buses, trolleybuses and related infrastructure, (reconstruction of traction equipment, substations, the purchase of road construction and cleaning equipment, as well as the reconstruction of roads and the development of public parks.
In addition, IFC will help develop a Smart City 2.0 strategy for Zaporizhia
The International Finance Corporation (IFC) of the World Bank Group can provide up to EUR27 million to the municipal transport company Shvidkisniy Tramway (High-Speed Tram) to procure 50 trams and rehabilitate 1 km of associated tramway line.
According to information on IFC’s website, the board of directors of the corporation intends to consider the relevant issue on December 21.
The tram vehicles will be operating on the existing underground and on the ground tram lines of the city and will be replacing obsolete vehicles.
The component relevant to the tramway line rehabilitation will take place on circa. 1 km section of Sobornosty Avenue, one of the main east-west transport arteries in the city center, located in the Metalurhiv district of Kryvy Rih. The construction is expected to start in April 2021 and to be completed by December 2021. The work involves dismantling the existing rail tracks and the overhead catenary, laying new tracks, mounting the catenary lines and final clean up and landscaping.
In parallel, as part of IFC’s Ukraine Cities Program, IFC is providing city with comprehensive advisory support to facilitate project implementation and increase its impacts. Activities include recommendations on improving sustainability and operational efficiency of transportation sector, reviewing tramway electric power supply system and related infrastructure to advise on capital modernization needs, as well as support in the technology specifications and selection of new low-floor energy efficient tram cars.
The project will enhance physical connectivity of remote districts and encourage tramway use, expected to contribute to the reduction of pollution and congestion in the city.
The International Finance Corporation (IFC), a member of the World Bank Group, has issued a $100-million senior loan to ProCredit Holding to be channeled to ProCredit banks in nine countries to support small and medium enterprises (SMEs) in multiple vulnerable economies, including Ukraine.
According to IFC, the project was approved on June 18 and necessary documents were signed on July 9.
ProCredit will channel the financing to its subsidiaries in Albania, Bosnia and Herzegovina, Ecuador, Kosovo, Moldova, North Macedonia, Romania, Serbia, and Ukraine.
At the beginning of July, the European Investment Bank (EIB) decided to provide Ukraine, Georgia and Moldova with EUR 55 million through ProCredit Bank in the respective countries to support SMEs within mitigating the effects of the economic shock.
ProCredit Bank in Ukraine was founded in 2001. At the beginning of 2020, its sole shareholder was ProCredit Holding (100% of the shares).
According to the National Bank of Ukraine, as of May 1, 2020 ProCredit Bank ranked 14th among 75 banks operating in the country in terms of total assets (UAH 25.646 billion).
The International Finance Corporation (IFC), a member of the World Bank Group, has placed its debut issue of bonds denominated in hryvnias at 15.75% per annum to support its operations in Ukraine.
On May 13, the first issue of bonds in the hryvnia was carried out, IFC Regional Manager for Ukraine, Belarus and Moldova Jason Pellmar said.
According to him, this placement confirms interest in hryvnia instruments in the market, especially when the issuer has an “AAA” rating.
The IFC representative office told the agency that the debut issue of bonds would be repaid in 2020.
The International Finance Corporation (IFC) has said the international crop receipts could be launched in spring 2019, IFC Project Manager for Ukraine Crop Receipts Helen Fairlamb said at a roundtable in Kyiv on Wednesday.
The IFC has already conducted the first trainings for farmers and hopes to see the first deals in the spring, Fairlamb told Interfax-Ukraine.
As the IFC said, after the entry into force of the law on currency and foreign exchange transactions, farmers can raise funds on crop receipts from nonresident creditors. According to the international receipts mechanism developed by IFC, such transactions will include a financial crop receipt and a loan/forward contract or an import contract.
Crop receipts are particularly relevant in Ukraine, where the land moratorium still exists, and farmers do not have a quality guarantee to attract financing. In addition, crop receipts are registered in the online register, and the lender can see how many receipts the farmer has and performs, Regional Manager for Belarus, Moldova and Ukraine at IFC Jason Pellmar said.
He added that crop receipts help farmers create a credit history to further raise funds.
According to the IFC, under the crop receipts project, it is also planned to modernize the legislation to create a secondary market for crop receipts (securitization).
Member of the Board of OTP Bank Alla Biniashvili said that for banks providing financing on crop receipts, the difficulty is that the National Bank considers these loans as unsecured.
The total amount of crop receipts in 2018 exceeded $200 million (UAH 5.24 billion). In total, 669 crop receipts were issued from 53 lenders for 1.1 million tonnes of agricultural products used as collateral.
From the beginning of 2019 as of February 12, 2019, a total of 104 receipts were issued to the amount of over UAH 1 billion.
Top managers of the International Finance Corporation (IFC) at a meeting of the National Investment Council of Ukraine in Davos (Switzerland) has confirmed their readiness to consider investment in the capital of state-owned Ukrgasbank, Head of the Office of the National Investment Council Yuliya Kovaliv has said.
As reported, in November 2017, Ukraine’s Ministry of Finance agreed on cooperation with the International Finance Corporation (IFC) in the process of privatization of Ukrgasbank. The memorandum of cooperation also envisaged a possibility of entering the capital of the bank by IFC to support its sale. The investment will depend on several factors, including the outcome of the due diligence of the bank.
Ukrgasbank was established in 1993 and as of January 1, 2017 the state represented by the Ministry of Finance owned 94.9% of its shares. Since 2015, the bank has been included in the list of state-owned facilities of strategic importance for the economy and national security.
