BelSEFF - Belgazprombank Energy Efficiency



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

12 Dec 2012



PSD disclosed:

26 Oct 2012


Translated version of this PSD: Russian

Project Description

The EBRD is considering the following transactions with BGPB:
1) up to USD 30 million senior loan for MSME. The MSME credit line, part of which is expected to be provided in LCY, will encourage the emergent growth in lending demand within the MSME sector, which has been severely impacted by the economic difficulties of 2011. The sub-loans will be on-lent for up to five years and used for capital expenditures and working capital.

2) up to EUR 10 million in USD equivalent senior loan for EE financing. The EE loan will be on-lent to industrial companies and small and medium-sized enterprises (SMEs) undertaking energy efficiency and renewable energy projects as part of the BelSEFF Framework.

3) an increase to the existing TFP facility of up to USD 10 million. The TFP extension will help to maintain adequate cross-border and domestic trade flows.

Transition Impact

The overall project is expected to have a transition impact through:
1) Providing term funding to MSMEs that have been adversely affected by unstable macroeconomic conditions, while improving procedures in the area of FX risk in MSME financing and facilitating on-lending in local currency.

2) Demonstrating the benefits of energy conservation and rational energy utilisation for improving the competitiveness of the industrial and SME sector during the time of rising energy costs and by contributing to the reduction of the energy intensity of the country’s industrial sector.

3) Supporting intra-regional trade and further expanding commercial links between the Bank’s countries of operations.
This transaction is the first EBRD deal with a BYR component and has a great demonstration effect. It presents an additional LCY source for Belarusian banks and entities through EBRD and other international lenders’ financing.

The Client

BGPB is a medium sized Belarusian bank (7th by assets as of end June 2012) founded in 1990. The bank has been an EBRD client from 1996 and is currently one of the key players in MSME financing in Belarus with a proven track record and significant experience supported by an extensive branch network throughout the country.

EBRD Finance

• Up to USD 30m, 5-year senior loan, intended for MSME clients, which includes a BYR-denominated tranche
• Up to EUR 10m equivalent credit line under the BelSEFF Framework for Energy Efficiency.
• TFP Limit increase of up to USD 10m

Project Cost

Up to USD 40 million and up to EUR 10 million equivalent.

Environmental Impact

Categorised FI. BGPB is an existing client of the EBRD, and its past environmental reporting has been satisfactory. In line with PR9 and BelSEFF requirements, the bank will need to adhere to the EBRD's Environmental and Social Exclusion and Referral Lists and continue to submit annual environmental and social reports to the Bank, including reporting on sub-projects. Sub-borrowers financed through BGPB's credit line under this facility will be required to comply with national environmental, health, safety and labour (EHSL) requirements and the Eligibility Criteria for EE and RE projects.

Technical Cooperation

N/A for MSME Credit line and TFP increase.

As part of the BelSEFF Framework, Technical cooperation (TC) will be funded by the Czech ODA Trust Fund. Consultants contracted by EBRD will provide implementation support to PBs, sub-borrowers and local experts, including: awareness campaign among industrial companies and SMEs, project pipeline development, energy audits at sub-borrowers, implementation support for sub-projects and eligibility verification.

Company Contact

Mrs Irina Antonova
Global Financial Institutions Head
60/2, Pritytskogo St.,
220121, Minsk, Belarus
Tel.: + 375 17 218 36 55


Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

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

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