Project description
and objectives:
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The Moscow Credit Line Framework is a five-year credit line of US$ 135 million to be made available to a group of six Moscow-based banks, including Uneximbank, for on-lending to medium-term private sector construction and other investment projects in the Moscow city region. Uneximbank will receive a loan of US$ 20 million under the Framework.
Project objectives:
1) Support of private sector construction and other enterprises in Moscow, thereby assisting the transition process, especially with regard to the construction industry;
2) indirect financing of projects that the EBRD cannot finance itself due to their size;
3) support for Moscow as Russia's leading economic centre; and
4) continued support of the financial sector and financial intermediation in Russia.
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Transition impact:
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The loan will support the growth, development and strengthening of the construction, property and other economic sectors, and the private sector in general by providing much-needed term funds for the development of private enterprises in Moscow.
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The client:
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Uneximbank is the largest private bank operating in Russia. It has over 400 major blue chip corporate customers and has strong dealings with the government.
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EBRD finance:
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The credit line will provide funding to Uneximbank to promote the increase of medium-term lending to private sector construction and other investment projects in the Moscow city region.
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Total project cost:
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US$ 20 million (ECU 16 million).
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Environmental impact:
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This financial intermediary project has no direct impact on the environment. The participating banks will follow the EBRD's Environmental Procedures for Local Banks in relation to all sub-loans financed through the credit line. In implementing these procedures, the participating banks will assess potential environmental issues associated with sub-projects which, at a minimum, are required to comply with local/national health, safety and environmental regulations and standards. The participating banks will report annually to the EBRD on environmental issues related to the credit line.
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Technical
cooperation:
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TC funds were obtained to fund a property adviser to assist the participating banks in analysing construction projects.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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EBRD contact:
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Natasha Khanjenkova, Operation Leader: khanjenn@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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