ROSEXIMBANK - MOSCOW CREDIT LINE SUBPROJECT

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 3972

Status Cancelled

Location

Russia

Business Sector

Financial Institutions

Notice Type

Private

Project ID 3972

Status Cancelled

Location

Russia

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

16 Dec 1997

Disclosure date

07 Nov 1997

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 Moscow Credit Line Framework is a five-year credit line of US$ 135 million to be made available to a group of around six Moscow-based banks, including Roseximbank, for on-lending to medium-term private sector investment and construction projects in the Moscow city region. Roseximbank will receive a loan of US$ 15 million (ECU 12 million) under the Framework.

Project objectives:

Support of private sector enterprises in Moscow, including the construction sector, thereby assisting the transition process through the provision of much-needed medium-term finance.
Indirect financing of projects that the EBRD cannot finance itself due to their small size.
Support for Moscow as Russia's leading economic centre.
Continued support of the financial sector and in particular the strategically important Russian Eximbank, which will be crucial to the development of Russian trade.

Transition Impact

The loan will support the growth, development and strengthening of the industry, property and service sectors in Moscow by providing term funds for the development of private enterprises in the city of Moscow.

The Client

Roseximbank is a relatively new state-owned banking institution established in 1994 with the strategic aim of supporting Russian exports and import substitution. Roseximbank will provide trade finance to the private sector, act as a government agent to implement state policy for the support and promotion of Russian exports, including government finance, and is responsible for foreign borrowings. In addition, Roseximbank will provide medium-term investment finance to trade-related Russian enterprises, and through its subsidiary Roseximguarant, will provide export credit guarantees. Net worth of Roseximbank as at end 1996 was US$ 42 million.

EBRD Finance

The credit line will provide funding to Roseximbank to promote the increase of medium-term lending to private sector investment and construction projects in the Moscow city region.

Project Cost

US$ 15 million (ECU 12 million).

Environmental Impact

This financial intermediary project has been classified FI, having no direct impact on the environment. The participating banks will follow the EBRD's Environmental Procedures for Local Banks in relation to all sub-loans financed through the credit line. In implementing these procedures, the participating banks will assess potential environmental issues associated with sub-projects which, at a minimum, are required to comply with local/national health, safety and environmental regulations and standards. The participating banks will report annually to the EBRD on environmental issues related to the credit line.

Technical Cooperation

TC funds have been obtained to fund a property adviser to assist the participating banks in analysing construction projects.

Company Contact

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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