Project description
and objectives:
|
The proposed project envisages providing a loan of USD 10 million to Locko
Bank, a private medium-sized Moscow-based bank for on-lending to SMEs
operating in Moscow, Moscow region and the main regional centres where the
bank is planning to open branches. The project is aimed at supporting the SME
sector in Moscow, St. Petersburg and other regions of Russia.
|
Transition impact:
|
The transition impact potential of the Project is expected in the following
areas:
-
The proposed project will support the institutional and financial
strengthening of Locko Bank. It will allow the bank to extend the range of
products offered to its SME clients and to compete in this market segment with
state-owned and larger privately owned banks.
-
By supporting private sector SMEs through the provision of medium and long
term funds, the Project will raise the level of financial intermediation in
Moscow, Moscow region and other regions and allow EBRD funds to reach
sub-borrowers requiring longer-term investment funding, which is currently not
available to them.
-
The project will facilitate the development of Locko Bank’s regional network
and expanding SME lending to the regions.
|
The client:
|
Locko Bank, a Moscow-based bank with 4 offices in Moscow and a branch in St.
Petersburg.
|
EBRD finance:
|
A four-year senior loan of USD 10 million.
|
Total project cost:
|
USD 10 million.
|
Environmental impact:
|
Locko Bank will be required to comply with EBRD’s Environmental Procedures for
SME financing which require adherence to the Bank’s Environmental Exclusion
and Referral List, compliance with the applicable national environmental,
health and safety requirements and submission of an Annual Environmental
Report to the Bank.
|
Technical
cooperation:
|
None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
|
Company contact:
|
Mr. Michael Pavlov, Director of Financial Institutions
Tel: +7 095 232 2801
Fax: +7 095 956 9396
E-mail:
mpavlov@lockobank.ru
|
EBRD contact:
|
Mikhail Grechikho, Operation Leader: grechikm@ebrd.com
|
Business opportunities:
|
For business opportunities or procurement, contact the client company.
|
General enquiries:
|
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
|
