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European Investment Bank Supporting Corporate Investments in Ukraine January 2018

Learn about the European Investment Bank's activities in Ukraine, including the Special Action Plan and private sector development initiatives, aimed at promoting corporate investments.

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European Investment Bank Supporting Corporate Investments in Ukraine January 2018

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  1. European Investment Bank Supporting Corporate Investments in UkraineJanuary 2018

  2. The EIB 1

  3. The EIB: the EU bank • Largest multilateral lender and borrower in the world • Shareholders: 28 EU Member States • HQ in Luxembourg with 40 local offices • Around 3000 staff (finance professionals, but also engineers, sector economists and socio-environmental experts) • Around 450 projects each year in over 160 countries • AAA-rated by the three major rating agencies

  4. Our Priorities in 2016 Environment Infrastructure Innovation SMEs EUR16.9bn EUR19.7bn EUR13.5bn EUR33.6bn

  5. EIB’s Activities outside the European Union 2

  6. EIB Group Activity Outside the EU

  7. EIB Group Activity Outside the EU • The EIB finances projects in some 140 non-EU countries. • EIB lending outside the EU accounts for some 10% of its global activity. Eastern Neighbours EUR1.8bn EFTA & Enlargement Countries EUR3.0bn 2016 Outside EU EUR 7.9bn Africa, Caribbean, Pacific, South Africa EUR 0.8bn EIB Group EUR 83.8bn EIFin 2016: EUR9.5bn Outside EU Lending Asia and Latin America EUR0.8bn Southern Neighbours EUR1.6bn

  8. EIB Group Activity Outside the EU

  9. EIB Signed Loans NC East signed loans – by country NC East Portfolio 2007 - 2016 EUR 9.6bn NC East 2016 EUR 1.8bn Loan portfolio to date in Eastern Neighbouring Countries and Central Asia NC East signed loans – by sector

  10. EIB’s Activities in Ukraine 3

  11. Ukraine Special Action Plan, EUR 3bn for 2014-2016 • Investing in Ukraine’s Future! • Ukraine Task Force March 2014 March 2014 December 2016 • Created to focus on the Special Action Plan Ukraine 2014 – 2016 and beyond. • Works along the entire project cycle, and, through cooperation with all relevant stakeholders, has been instrumental in addressing specific needs of Ukrainian counterparts. • As a result, several innovative projects were brought to implementation stage, for instance: • The European Commission announced a comprehensive EUR 11bn assistance plan to support Ukraine . • EIB pledged to finance EUR 3bn new investments over the period 2014 – 2016. • EIB fully delivered on its promise: • Signed 15 transactions for more than EUR 3bn across various sectors • Provided advisory support alongside its financing • Municipal Infrastructure Programme • Early Recovery Programme • Ukraine Higher Education • Ukraine Agri-Food Loan

  12. Ukraine Special Action Plan, EUR 3bn for 2014-2016 External Lending Mandate Signed Loans Portfolio Development, EUR m Development of the local private sector, in particular SMEs Ukraine Special Action Plan Development of social and economic infrastructure Climate change adaptation and mitigation

  13. Ukraine Special Action Plan, EUR 3bn for 2014-2016 Sectoral Distribution Transport, 7% Social Infrastructure, 24% SMEs and MidCaps, 36% Energy, 20% Sustainable Urban Transport, 7% RE & EE, 2% Other, 5%

  14. Support to the Private Sector 4

  15. Private Sector Development Corporates Key privatesectorprojectsfinanced by the EIB Banks UKREXIMBANK LOAN FOR SMES & MID-CAPS EUR 100m 2013 UNICREDIT LOAN SME & PRIORITY PROJECTS EUR 140m 2013 PROMINVESTBANK LOAN SMES & MID-CAPS EUR 200m 2013 OSCHADBANK LOAN FOR SMES & MID-CAPS EUR 220m 2013 UKRAINE AGRI-FOOD APEX LOAN EUR 400m 2015 APEX LOAN FOR SMES & MID-CAPS EUR 400m 2014 NIBULON USD 74m 2016 AGROFUSION EUR 23m 2017 MHP AGRI-FOOD EUR 85m 2014 ASTARTA AGRI-FOOD USD 43m 2017

  16. Private Sector Development Under implementation Deep and Comprehensive Free Trade Area (DCFTA) Initiative East Guarantee Facility Offering SME loan guarantees to local banks via the European Investment Fund (EIF), enabling them to provide wider access to finance for SMEs Agri-food Value Chains Providing technical assistance for capacity building activities and business planning and credit application support services to the SMEs Microfinance Supporting micro-enterprises by providing financing to local microfinance institutions

  17. Private Sector Development EIB Intermediated Lending Loans to SMEs and MidCaps Loans to Corporates Providing support to the economic and social development of the country, thereby improving the life of citizens • Higher risk projects for innovation • InnovFin • Providing risk financing to stimulate entrepreneurship and innovation. Advisory including training, institution building, etc. (EPTATF, NIF, others)

  18. Private Sector Development Loans to Corporates - Funding options Loan guaranteed by the Group Loan guaranteed by a bank Unsecured Loan The EIB finances the local borrower directlyand benefits from a first-demand guarantee from the group located outside the country. The EIB covers the political risk. The EIB lends the funds directly to the borrower and also signs a first-demand guarantee with a commercial bank. The EIB covers the political risk. The EIB does not benefit from an investment grade guarantee. Pricing of the loan will be set accordingly. Intra-group Guarantee Guarantee Guarantee Loan(s) Loan(s) Loan(s) Borrowers’ parent (outside UKR) ECA/Commercial Bank(s) (Outside UKR) Promoter’s group Premium Local Promoter/Borrower Local Promoter/Borrower Local Promoter/Borrower The EIB will cover political risk if a non-Ukrainian guarantor guarantees the commercial risks.

  19. Private Sector Development General Conditions

  20. Private Sector Development EIB Intermediated Lending Loans to SMEs and MidCaps Loans to Corporates Providing support to the economic and social development of the country, thereby improving the life of citizens • Higher risk projects for innovation • InnovFin • Providing risk financing to stimulate entrepreneurship and innovation. Advisory including training, institution building, etc. (EPTATF, NIF, others)

  21. Private Sector Development InnovFin Product Overview Loans to Corporates Providing support to the economic and social development of the country, thereby improving the life of citizens

  22. Private Sector Development How doesMidCap Growth Finance work? EIF Innovative Mid-Caps3,000 Employees Growth Finance / MezzanineEUR 7.5 to 25m • Direct long term debt and mezzanine finance: EUR 7.5m – EUR 25m • Loanscanbestructuredaseconomicequity (silentparticipation) • For innovative Mid-Caps and SMEs (eligiblecounterpartyconcept) • EIB canfinanceupto 50% of all investmentsover 3 years • Streamlined EIB approvalprocess EUROPEAN INVESTMENT BANK

  23. Private Sector Development InnovFin Product Overview Loans to Corporates Providing support to the economic and social development of the country, thereby improving the life of citizens

  24. Private Sector Development How doesInnovFin Large Projectswork? EIF Large ProjectsEUR 50m – EUR 600m DirectLending EUR 25m - EUR 300m • Senior debt (pari-passu with other senior lenders) • Eligibleprojectrequired. EIB financesupto 50% of R&D and innovationinvestments • Comprehensive due diligenceincludingproject due diligence (technical, financial, economic) • EIB standarddocumentation EUROPEAN INVESTMENT BANK

  25. EIB project cycle Step 1 Proposal • Financial • Economic • Social • Environmental • Technical assessment Step 7 Repayment Step 2 Appraisal EIBproject cycle • EIB Management Committee • EIB Board of Directors Step 6 Monitoring and reporting Step 3 Approval Step 5Disbursement Step 4Signature Finance contract is signed

  26. Thank you! Anastasiya Kharlan Business Analyst Kyiv Representative Office Phone: +38 (067) 240 24 20 email: a.kharlan@eib.org European Investment Bank 101 Volodymyrska Street 01033 Kyiv, Ukraine Jean-Jacques Soulacroup Senior Corporate Banker Corporate lending for Eastern Partner Countries Phone: (+352) 4379 86730 email: j.soulacroup@eib.org European Investment Bank 98-100, boulevard Konrad Adenauer L-2950 Luxembourg. Marc D’hooge Managerial Advisor Innovation Finance Phone: (+352) 4379 87211 email: m.dhooge@eib.org European Investment Bank 98-100, boulevard Konrad Adenauer L-2950 Luxembourg.

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