Credit Agricole is contributing to the reconstruction of Ukraine's energy infrastructure

As a systemically important bank, Credit Agricole joined the initiative of the National Bank of Ukraine and on June 25, 2024, signed the Memorandum on project bank lending for reconstruction of energy infrastructure that has suffered losses due to Russia's armed aggression. The bank will participate in the financing of companies implementing initiatives to increase the level of energy independence of Ukraine.

"Credit Agricole has been working in Ukraine for 31 years. Nowadays, our bank is actively involved in the country’s reconstruction, we are financing our business customers, investing in the development of the bank's network and IT infrastructure. Strengthening Ukraine's energy independence is currently a strategic task not only for banks, but also for construction companies, as well as realm-related enterprises in Ukraine. Thanks to the exceptional stability and comprehensive expertise of our bank, we offer project financing to increase the energy independence of our business customers. This will enable them to work continuously during the war. The signed Memorandum is a new stage of the bank's involvement in the reconstruction of Ukraine and support of the economy and society," comments Carlos De Cordoue, Chairman of the Management Board at Credit Agricole.

Small, medium and large corporate enterprises can receive the financing. It could involve projects related to the construction of solar, wind, biogas power stations, biomass, gas turbine and gas engine power plants, industrial storage batteries, highly maneuverable, storage, cogeneration, etc. For private entrepreneurs, micro and small businesses, it could be projects for installation of energy-efficient doors/windows, solar panels, etc.

To support such initiatives, Credit Agricole offers: investment lending and non-revolving credit lines for businesses

"International Credit Agricole Group has extensive experience in project financing, particularly in the realm of energy generation, acting through its specialized subsidiaries Credit Agricole Corporate and the Credit Agricole Transition Energetique investment bank, and was a pioneer in ESG financing, as proven by its leading positions on the green bond markets. In turn, Credit Agricole Ukraine is constantly financing and supporting the real sector of the country's economy through our customers. Supporting the energy capabilities of business and Ukraine as a whole is a comprehensive and important issue for the future of the nation. In addition to financing the projects, this also implies development of a strategy and global vision at the country level. Therefore, the Memorandum is an essential starting point towards the country’s reconstruction and achieving its energy independence. We are going to pay special attention to the renewable energy sources financing, as this is one of the priority directions of the bank’s Sustainable Development Strategy, as well as the international Group as a whole," says Alexandre Tchesnakoff, Member of the Management Board at Credit Agricole.

Even in the wartime, Credit Agricole continues operating resiliently and supporting customers, team and society. Credit Agricole Group is among TOP-10 of the largest banks worldwide. The bank's stable and reliable operation in Ukraine has been highlighted in a number of ratings. Credit Agricole is the most resilient bank according to Dragon Capital and the NV magazine (2024), and according to the Minfin portal, as of the end of Q1 2024, the best bank for agribusiness according to the “TOP-100: RATINGS OF THE LARGEST” business magazine and Delo, as well as the cash management leader in Ukraine according to the Euromoney rating. In March 2024, Credit Agricole also reconfirmed its highest ranking positions according to Standard-Rating rating agency.

Since the beginning of the war, the bank has allocated UAH 142 million to support hospitals and help those affected by the war.