Asters and Integrites Advise on IFC’s EUR 30 Million Loan to Ukrgasbank

Asters and Integrites Advise on IFC’s EUR 30 Million Loan to Ukrgasbank

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Asters has advised the International Finance Corporation on its provision of a EUR 30 million loan to Ukrgasbank for financing of sustainable energy and energy-efficient projects, including those developed by small and medium enterprises. Integrites advised the bank on the deal.

According to Asters, “IFC is supporting Ukrgasbank, the fourth largest bank in Ukraine by assets, on its way to privatization, which will be the first for a large state-owned bank in Ukraine.” In addition, the firm reported, the “IFC’s partnership with Ukrgasbank is also part of its efforts to attract private investment into Ukraine’s financial sector and boost the country’s economic growth.” Finally, the firm reported that, “since 2016, IFC’s advisory work, in partnership with the Austrian Federal Ministry of Finance and the Ministry of Economic Affairs and Climate Policy of the Netherlands, has helped Ukrgasbank become Ukraine’s first climate-finance bank.”

Igor Krasovskiy, Integrites Partner, commented: “This breakthrough transaction is a strong signal to the financial markets of the Government’s commitment to decrease the state’s share in the banking sector. This is excellent news for the market, and it’s a real pleasure to have helped Minfin and Ukrgasbank with this landmark deal.”

The Asters team consisted of Partners Igor Svechkar and Iryna Pokanay, Counsels Sergiy Glushchenko and Gabriel Aslanian, and Associates Inna Bondarenko, Olena Gadomska, and Viktoria Zagreba.

The Integrites team included Partners Igor Krasovskiy, Serhii Shershun, and Illya Tkachuk, Senior Associates Olena Savchuk and Inna Kostrytska, and Associate Mykola Boichuk.