BTA IPOTEKA - MORTGAGE LOAN II

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 35021

Status Complete

Location

Kazakhstan

Business Sector

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 35021

Status Complete

Location

Kazakhstan

Business Sector

Notice Type

Private

Environmental Category

Approval Date

07 Dec 2004

Disclosure date

19 Oct 2004

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

The proposed US$ 10 million mortgage loan, in either KZT or US$, will be used to lend to individuals for buying and/or repairing real estate properties. This mortgage loan is the second EBRD loan to BTA Ipoteka (BTAI) and would help BTAI to expand its mortgage loan portfolio and decrease funding costs, thus allowing provision of long-term affordable financing to home owners in Kazakhstan.

Transition Impact

Additional EBRD mortgage loan to BTAI will further support the development of the housing mortgage market in Kazakhstan by providing long-term financing to the only specialised mortgage bank in the country and a leading mortgage provider for further on-lending to qualified sub-borrowers. Expansion of mortgage lending will make the mortgage market in Kazakhstan more competitive and transparent, allowing a wider range of customers to have access to mortgage financing at reasonable rates and to benefit from other improvements which competition brings.

EBRD will ensure that BTAI continues to set best corporate and lending practice. In addition the loan will facilitate promotion of mortgage bond issuance and further potential developments of the secondary market for mortgages. Finally, by helping to develop mortgage backed products (loans and securities), the EBRD will be creating alternative investments - both in terms of quality risk profile and term - for Kazakh pension funds and in future for insurance companies, mutual funds and other investors with a long term horizon.

The Client

BTAI was established in late 2000 to specialise in mortgage finance. BTAI remains at the forefront of western-style housing finance in Kazakhstan and is one of the top 4 retail mortgage providers with the current market share of 14%. BTAI operates through its head office in Almaty and branches in 13 largest cities throughout Kazakhstan.

EBRD Finance

Senior secured loan of US$ 10 million (€ 8.3 million equivalent), in either KZT or US$.

Project Cost

US$ 10 million (€ 8.3 million equivalent)

Environmental Impact

BTAI will be required to carry out its operations in accordance with the EBRD’s Environmental Procedures for Mortgage Loan and, at the same time with the Environmental Procedures for Intermediated Lending through Local Banks, including adherence to EBRD’s Environmental Exclusion List, compliance with national environmental, health and safety regulations.

Technical Cooperation

None.

Company Contact

Mr. Kairat Altynbekov

E-mail: altynbekov@bta.kz

Transition impact

ETI Score:75

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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