Oschadbank, EBRR sign second EUR 50 mln ESSF guarantee tranche

Oschadbank and the European Bank for Reconstruction and Development (EBRD) have signed a second EUR 50 million tranche under the guarantee instrument of the Energy Security and Stability Facility (ESSF). This agreement was signed on September 15 in London during the EBRD's annual meeting with its partner banks in Ukraine. The program provides for partial EBRD coverage of risks associated with Oschadbank's investment loans to finance projects in power generation and energy efficiency, with the guarantee coverage amounting to 50% of the respective loan.

The new EUR 50 million tranche will help continue financing projects that enhance energy resilience for businesses, communities, and clients, especially crucial ahead of the fall and winter period due to ongoing Russian attacks on energy infrastructure. The ESSF is aimed at various entities, including small and medium-sized enterprises, municipalities, and private households, with financing directed towards distributed generation, renewable energy sources, energy storage systems, and improvements in energy efficiency for residential, commercial, and municipal buildings.

The total financing volume of the ESSF program is EUR 2 billion, with seven other Ukrainian banks participating in the program.

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