Sayenko Kharenko acted as Ukrainian legal counsel to International Finance Corporation (IFC) on two risk-sharing facilities for Raiffeisen Bank Ukraine, totaling approximately USD 210 million-equivalent.
The first risk sharing facility is set to address the critical financing needs of small and medium enterprises (SMEs) in Ukraine, particularly in agribusiness, with up to USD 50 million shared equally between IFC and Raiffeisen Bank Ukraine.
The second risk-sharing facility, totalling EUR 150 million, focuses on supporting larger corporates (midcaps) in Ukraine to grow their businesses, preserve and create jobs, and finance longer-term renewable energy generation and energy-efficiency projects crucial for bolstering Ukraine’s energy security. This risk-sharing facility comprises contributions of up to EUR 50 million from IFC and USD 50 million from the U.S. International Development Finance Corporation (DFC), marking the first direct cooperation between IFC and DFC to establish a risk sharing facility.
The risk-sharing facilities provided to Raiffeisen Bank Ukraine mark IFC’s fourth and fifth risk-sharing investments in Ukraine since February 2022, complementing previously committed risk-sharing facilities under the Small Loan Guarantee Program, supported by the European Commission.
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. IFC has invested almost USD 2 billion to date, including USD 1.25 billion for its own account and USD 718 million mobilized from partners, to support Ukraine’s private sector and prepare for reconstruction. Sayenko Kharenko’s team was led by Igor Lozenko and included Oles Trachuk, Mykola Suprunovych, and Danylo Dashko.
