Redcliffe Partners acted as Ukrainian legal counsel to European Bank for Reconstruction and Development in connection with risk sharing instruments provided to ProCredit Bank, OTP Bank and OTP Leasing. Under the instruments, which are relatively new for Ukrainian market, EBRD will cover more than half of the credit risk of newly originated financing provided by the partner financing institutions. The share of risk the EBRD takes on will be up to EUR 30 million. The programme will facilitate access to finance for eligible Ukrainian companies operating in critical agri-related industries (farming, food processing, transport and imports). Ensuring food security is one of the top priorities in EBRD support plan for Ukraine’s economy amid Russia’s invasion of Ukraine.
Redcliffe Partners’ role in the transaction included adjustment of the risk-sharing instruments to Ukrainian law, review of transaction documentation, analysis of partner institutions’ standard agreements as to their compliance with EBRD criteria and issuance of the Ukrainian legal opinion.