Joint-Stock Company The State Export-Import Bank of Ukraine UKREXIMBANK. Sustainable Energy Finance. Sergiy Khudiyash Head, IFI Programs

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1 Joint-Stock Company The State Export-Import Bank of Ukraine UKREXIMBANK Sustainable Energy Finance Sergiy Khudiyash Head, IFI Programs KYIV 2014

2 is 100% state-owned UKREXIMBANK today: acts as the sole financial agent for the Government is one of the major and most reliable operators in Ukrainian banking market is nationwide leader in corporate banking possesses well developed branch network UKREXIMBANK: TIME TESTED RELIABILITY 2

3 UKREXIMBANK today: has the widest network of foreign correspondents and long-standing reliable partners services considerable proportion of export and import activities of Ukrainian businesses is the only Ukrainian bank recognised as direct borrower/guarantor by over 35 primary Export Credit Agencies on MLT-financing UKREXIMBANK: TIME TESTED RELIABILITY 3

4 UKREXIMBANK today: Indicator Total Assets, UAH million 93, ,206.1 Total Equity, UAH million 17, ,380.5 Loans to Customers 41, ,365.8 Net Interest Margin, % Net Profit After Tax, UAH million Cost to Income Ratio, % Total Capital Adequacy Ratio, % UKREXIMBANK: TIME TESTED RELIABILITY 4

5 Sustainable energy in Ukraine: challenges high energy intensity of GDP outdated production facilities lack of long-term financing in the market businesses reluctant to long-term investment during turbulence heritage of low tariffs depreciation of assets of local businesses due to FX fluctuations lack of environmental and social awareness SUSTAINABLE ENERGY IN UKRAINE: CHALLENGES 5

6 Sustainable energy in Ukraine: incentives Green Tariff linked to hard currency guaranteed off-take of generated energy tax benefits support from IFI / DBs SUSTAINABLE ENERGY IN UKRAINE: CHALLENGES 6

7 Sustainable energy in Ukraine: funding demand the World Bank estimates Ukrainian demand in sustainable energy financing of over $1 billion per annum modernization is required across sectors, from food to construction, from clothing to energy sector IFI / DB funding required to create leverage along with expertise transfer SUSTAINABLE ENERGY IN UKRAINE: DEMAND 7

8 Sustainable energy in Ukraine: Energy intensity of GDP SUSTAINABLE ENERGY IN UKRAINE 8

9 Sustainable energy in Ukraine: Potential SUSTAINABLE ENERGY in UKRAINE 9

10 Ukreximbank response standard product developed and implemented for financing sustainable energy across the bank s network environmental and social procedures are part of credit appraisal / monitoring dedicated project implementation unit with in-house capacity for feasibility, technical and environmental evaluation 7+ years of expertise in financing sustainable energy in Ukraine, including intermediated on-lending through local banks SUSTAINABLE ENERGY by UKREXIMBANK 10

11 Ukreximbank response over $550m IFI/DB debt financing for energy efficiency and renewable energy, supported by Donor Funding and TA factual demonstration of viability and replicability: support to clients in developing success stories dedicated means for education on sustainable energy products marketing & promotion: partner local banks and beneficiary enterprises; Corporate University systematically conducts seminars and distant training of the branch network and HQ staff SUSTAINABLE ENERGY by UKREXIMBANK 11

12 Ukreximbank: on-going dialogue with IFI/DBs on sustainable energy, SME and export development 1997: World Bank: Export Development Project 2008: EBRD: UKEEP: Extension 1998: KfW: SME Programme 2009: EBRD: Sub debt & Syndication 2006: World Bank: Second Export Development Project 2007: EBRD: Ukraine Energy Efficiency Programme 2007: EBRD: Trade Facilitation Programme 2008: NIB: Environment Friendly Industry Modernization 2011: (i) World Bank: Energy Efficiency Project & (ii) Second Export Development Project (Additional Financing) 2012: EBRD: UKEEP-II: SMEs [incl. Donor Funding - EU] 2012: Global Climate Partnership Fund: Sustainable Energy 2012: EIB: SMEs & Energy Efficiency / Environment Loan SUPPORTING UKRAINE S STRATEGIC GOALS 12

13 Sustainable energy in Ukraine: potential next steps review of the OECD s risk classification for Ukraine on officially supported export credits support to development of transparent and predictable business environment: encouraging investors enter and remain in the market sustainable sector arrangements including Green Tariff / local component / taxation / off-take extend access to long-term funding for sustainable energy investments in private sector to create leverage in the market direct / intermediated finance credit enhancement risk sharing SUSTAINABLE ENERGY IN UKRAINE: CHALLENGES 13

14 UKREXIMBANK: recognized for sustainable energy financing SUPPORTING UKRAINE S STRATEGIC GOALS by MAKING PROJECTS HAPPEN 14

15 CASE STUDIES 15

16 CASE STUDIES 16

17 CASE STUDIES 17

18 CASE STUDIES 18

19 Thank you for your attention! The State Export-Import Bank of Ukraine 127, Gorkogo Str., Kyiv-150, 03150, Ukraine Telephone: Fax: Telex: RICA UX S.W.I.F.T.: EXBSUAUX RELIABILITY YOU MAY BANK ON 19