Project description
and objectives:
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EBRD proposes to lend USD 20 million to International Mortgage Bank, Ukraine
(“IMB Ukraine” or the “Company”) a specialised financial institution operating
in consumer finance and mortgage lending in Ukraine.
The project aims to support the expansion of a pure-player specialised
mortgage and consumer finance institution in Ukraine. The Loan will provide
the Company with a stable, longer term funding source to grow its business on
a sustainable basis.
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Transition impact:
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-
The proposed transaction will enhance competition and innovation in the
nascent consumer finance market in Ukraine.
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The proposed project will promote financial sector intermediation in an
industry characterized by a low level of development and with very high growth
potential.
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The Project is expected to support through policy dialogue changes in the
legal framework for the consumer finance industry, such as the establishment
of a country-wide credit bureau, as well as at a later stage support the
development of capital markets through potential securitisation.
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The client:
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International Mortgage Bank is a specialised financial institution
incorporated in Ukraine and operating a nationwide mortgage and consumer
finance platform.
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EBRD finance:
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Term Loan of USD 20 million (EUR 15 million).
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Total project cost:
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USD 20 million (EUR 15 million).
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Environmental impact:
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IMB Ukraine will be required to adopt and implement the EBRD's Environmental
Procedures for Financial Institutions which includes adherence to EBRD’s
Environmental Exclusion and Referral Lists, compliance with the applicable
national environmental, health and safety and labour requirements, and regular
submit an Environmental Report to EBRD.
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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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Todd Esposito, Chief Financial Officer
IMB Group
c/o
International Mortgage Bank
13 Pimonenka Street
Building 4a,
2nd floor
04050 Kiev
Ukraine
Tel: +38 044 492 9092
Fax: +38 044 492 9099
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EBRD contact:
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Laura Budreviciute, Operation Leader: budrevil@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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