Ukrgasbank is the Best Issuing Bank in Eastern Europe in 2019

The International Finance Corporation (IFC), a member of the World Bank Group, named the state-owned Ukrgasbank the Best Issuing Bank in Eastern Europe in 2019. The bank received this high recognition for its achievements in IFC’s Global Trade Finance Program, which we joined in the fall of 2017.

'We started active work in the Global Trade Finance Program not so long ago, compared to other banks, but we achieved significant results very quickly. Our cooperation with IFC allows us to open new markets for Ukrainian manufacturers, increase and expand foreign trade operations, and ultimately stimulate Ukraine's economic growth. For us, as a state-owned bank, it is especially a pleasure to represent our country in Europe and to be one of the few Ukrainian banks that received this honorary award!' Said Kyrylo Shevchenko, Chairman of the Board.

Thanks to the cooperation with IFC, we were the first in Ukraine to invest in environmental projects, where every investment is not only profitable but also has a strong social impact. And joining IFC’s Global Trade Finance Program has allowed UKRGASBANK to increase funding for its clients' foreign economic contracts, significantly expand the geography of its partner network and support efforts to modernize the economy and accelerate its growth.

Ukrgasbank’s partnership with IFC has already yielded solid results: Since 2016, the bank has disbursed about 500 loans for mid- to large-scale climate projects and provided $1 bn in green loans. The expected benefits are significant: Collectively, the projects Ukrgasbank finances are expected to prevent the emission of about 1.4 million tons of carbon dioxide a year.