24/07/2024

State-owned Ukreximbank has been recognised as Ukraine's Best Bank for ESG by Euromoney Excellence Awards 2024.

The implementation of ESG standards for Ukreximbank is a strategic component of both ensuring the institution's resilience to external factors and unprecedented wartime challenges, as well as developing one of the Bank's key areas of work - cooperation with IFIs.

Today, Ukreximbank is the only financial agent of the Ukrainian Government for implementing programs of international financial institutions (IFIs) and the Government of Ukraine. The Bank has the expertise to attract funds and structure financial products, including long-term loans, in cooperation with IFIs.

During 2022-2023, within the framework of joint programs with IFIs, Ukreximbank implemented more than 200 credit projects, with a total financing volume of over USD 220 million or almost UAH 9 billion.

Ukreximbank operates in each of the three ESG areas.

Environmental

Ukreximbank supports the implementation of Ukraine's "green transition." The Bank and the impact investment fund Green for Growth Fund (GGF) signed a Letter of Intent for the development of  Ukraine's “green” economy.

Social

From the first days of the full-scale invasion, the state-owned Ukreximbank immediately focused on supporting critical sectors of the economy. For example, in the spring of 2022, the Bank promptly joined the financing of the first military sowing campaign, providing financing in a short time frame of over UAH 2.3 billion.

The Bank provided credit support to fuel market operators to create new fuel supply routes to Ukraine during the "fuel crisis" in May-June 2022.

The Bank has taken on ambitious commitments to increase financial inclusion and veteran reintegration, joining the Charter, the creation of which was initiated by the National Bank of Ukraine and the European Bank for Reconstruction and Development.

Corporate Governance

Since 2018, the Bank's collegial governing body has been the Supervisory Board. It consists of independent members and representatives of the President, the Cabinet of Ministers, and the Verkhovna Rada. On 15 January 2024, the first meeting of the Bank's renewed Supervisory Board took place, which includes the most reputable international and Ukrainian experts.

"We experience the benefits that ESG standards bring to business and consider further deepening and implementing ESG as a strategic investment. Ukreximbank also constantly communicates the advantages of ESG to its clients, particularly the positive impact of ESG standards on the ability to attract favourable international financing.

For example, within the framework of a joint project with the @IBRD, Ukreximbank has implemented 130 credit projects with 85 borrowers from almost all regions of Ukraine (excluding temporarily occupied territories), which meet the IBRD's established program eligibility criteria and have undergone thorough ESG assessments, noted the Chairman of the Management Board of Ukreximbank, Viktor Ponomarenko.

About Euromoney Excellence Awards

Euromoney's Awards for Excellence is the definitive annual awards programme of the global banking industry. They represent the highest distinction to the banks and bankers who matter most in an industry where differentiation is highly sought after and exceptionally difficult to demonstrate.

For over 30 years, Euromoney has recognised the banks and bankers that have demonstrated their differentiation, pioneering a comprehensive awards programme that today remains the industry benchmark globally.