On June 25, 2019, the results of the First all-Ukrainian project «Financial institutions of Ukraine: worthy, successful, reliable» were announced. Commercial Industrial Bank won in the nomination «FIRST BANK WITH ESCO-LENDING». The award was received by the Director of the Department of Factoring, Documentary Operations, and Trade Finance, Dmytro Chornyi.
The event was organized by the Publishing House «Ukraine Business» together with the Association of Ukrainian Banks (AUB), the League of Insurance Organizations of Ukraine (LIOU), the Ukrainian National Committee of the International Chamber of Commerce (ICC Ukraine), IBI Rating, RA «Standard Rating», AF «Standard audit», the Ukrainian Credit Bureau, with the support of the National Bank of Ukraine (NBU) and with media partnership of the First Business Channel.
All banks, financial institutions, insurance, investment companies, and credit unions that carried out their activity on the territory of Ukraine during 2018 were invited to participate in the event.
The summing up of results was based on open data of the NBU, AUB, the Rating Agency «Standard-Rating» (Ukraine), on data provided by banks and financial companies to the Organizing Committee of the Project.
We remind you that Joint-Stock Company «Commercial Industrial Bank» and the United Nations Development Programme (UNDP) cooperate in the sphere of financing energy efficiency and renewable energy programs. In January 2019, a Memorandum of partnership was signed between JSC «CIB» and UNDP. Within the framework of the signed document, the parties implement the project «Removal of barriers to attract investments in increasing energy efficiency of public buildings in small and medium cities of Ukraine based on the ESCO model». The aim of the project is the implementation of European energy consumption standards and the creation of comfortable conditions of stay in public buildings. The parties carry out information-consulting, expert-analytical, other cooperation and coordination of actions for the implementation of joint projects, programs, measures aimed at the development of energy saving, energy efficiency, «green» energy, and the building of necessary infrastructure in these spheres.
It is worth noting that the State Agency for Energy Efficiency and Energy Conservation of Ukraine for three years was looking for acceptable means of financing ESCO contracts. And it is with the support of UNDP specialists, together with Joint-Stock Company «Commercial Industrial Bank», that the most optimal model of cooperation was developed.
Within the framework of the implementation of the project «Removal of barriers to attract investments in increasing energy efficiency of public buildings in small and medium cities of Ukraine based on the ESCO model», in January 2019 the first factoring agreement in the country was concluded between JSC «CIB» and the company LLC "KYIVESCO", under which energy service agreements are financed. The parties' forecasts regarding expected cash receipts have been justified, and at the current moment it can be stated – the chosen model of cooperation is a really working one.
The successful implementation of the first factoring of energy service agreements in Ukraine opens the opportunity for other ESCO companies to master this experience and even more actively implement the ESCO mechanism in the budget sphere.
