Project description
and objectives:
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The proposed project consists of up to USD 20 million mortgage loan to Bank
Forum.
The EBRD long-term funds will be used to provide long-term loans to
individuals for purchasing, constructing, renovating, repairing and/or
re-mortgaging their residential property in Ukraine.
The Mortgage Loan and an associated TC will support a proven partner bank in
Ukraine in expansion of its mortgage lending and improving mortgage
operations.
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Transition impact:
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The project and related TC will have a significant transition impact in the
following areas:
-
support development of the mortgage sector in Ukraine, which is in the early
stage of development;
-
increase long-term funds available to Ukrainian banking system and would
enable increasing number of people to access bank financing for purchasing,
renovating and/or constructing residential property;
-
support Bank Forum in implementing best international practice in its mortgage
operations and develop standardised mortgage product for future securitisation.
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The client:
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Bank Forum is a joint stock company organised under the laws of Ukraine, with
total assets USD 994 million, shareholders’ equity USD 96 million, and profit
USD 3.4 million in H1 2006. The bank has more than 140 branches and banking
outlets all across Ukraine.
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EBRD finance:
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Up to USD 20 million mortgage credit line in two tranches of USD 10 million
each, with individual tranche maturities of up to 10 years.
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Total project cost:
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USD 20 million.
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Environmental impact:
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Forum Bank is familiar with EBRD’s environmental requirements within its
existing operations. Forum will be required to comply with the EBRD’s
Environmental Procedures for Residential Mortgage Lending. Forum will continue
to submit Annual Environmental Reports to the Bank.
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Technical
cooperation:
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For mortgage loan, the Bank will engage Consultants to assist Forum in
upgrading its mortgage lending policies and procedures to meet the Bank’s List
of the Minimum Standards and Best Suggested Practices. The TC project will be
done under Ukraine Mortgage Framework funded by CIDA as individual call-off.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Mr Oleksiy Pavlov, Head of International Business
Tel: +38 044 205 3559
Fax: +38044 5810432
E-mail: apavlov@forum.com.ua
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EBRD contact:
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Roman Piven, Operation Leader: pivenr@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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