Project description
and objectives:
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The proposed project consists of a senior loan of US$ 10 million for on-lending to private sector Small and Medium-sized Enterprises (SMEs) in the Krasnodar region of southern Russia.
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Transition impact:
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The project is expected to have transition impact in two main areas:
- It will secure demonstration effect by supporting a leading independent local bank that is committed to meeting high standards of transparency and corporate governance. EBRD’s co-operation with Yugbank is designed to demonstrate that a well-managed private bank can compete successfully in its market niche with state-owned and Moscow-based banks.
- In supporting private sector SMEs by providing term funds it will raise the level of financial intermediation in the region and allow EBRD funds to reach SME sub-borrowers to finance their investment projects, for which long-term funding is currently not readily available.
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The client:
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Yugbank, headquartered in Krasnodar and one of the leading privately-owned banks in southern Russia, providing a full range of retail and corporate banking services.
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EBRD finance:
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SME loan for US$10 million.
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Total project cost:
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US$ 10 million.
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Environmental impact:
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Yugbank will be required to comply with EBRD’s Environmental Procedures for Intermediated Finance through local banks, including ensuring compliance with the applicable national environmental, health and safety legislation, adherence with EBRD’s Environmental Exclusion List and submission of annual environmental reports to the Bank.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Aleftina Manzharova, Vice President
Fax: +7 8612 55 67 77
Website: www.yugbank.ru
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EBRD contact:
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Marina Petrov, Operation Leader: petrovm@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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