Sovcombank SME loan



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

17 Jun 2008



PSD disclosed:

16 May 2008

Project Description

The proposed project envisages providing two loans for a total amount of RUB 1,020 million to Sovcombank, a private medium-sized regional bank for on-lending to MSMEs operating in Central Russia, the Urals, Siberia and the Far East. The Project is aimed increasing the financial access of micro, small and medium-sized enterprises in the Russian regions as well as broadening Sovcombank’s client outreach.

Transition Impact

The transition impact potential of the Project is expected in the following areas:

  • By supporting private sector MSMEs through the provision of medium and long term funds, the Project will raise the level of financial intermediation in Central Russia, the Urals, Siberia and the Far East and allow EBRD funds to reach sub-borrowers requiring longer-term investment funding, which is currently not available to them.
  • The project will enhance the ability of a strong regional bank to compete and promote competition in the Russian banking sector.
  • The Project will facilitate the development of Sovcombank’s proprietary MSE scoring system, accounting to international best practice, and to further develop secondary market funding strategies for its MSE loan portfolio.


The Client

Sovcombank is a rapidly developing multi-regional bank headquartered in Kostroma, it has an extensive regional network covering cities and towns of Central Russia. Through its subsidiary ARKA-Finance, Sovcombank operates in the Urals, Siberia and the Far East. Sovcombank provides a wide range of banking services to corporates, MSMEs, individuals and is pursuing a growth strategy with a particular focus on SME, MSE and retail lending.

EBRD Finance

A four-year loan of RUB 530 million (equivalent of EUR 14.3 million) to be provided under the Multi-Product Framework for Medium-Sized Banks and a four-year loan of RUB 490 million (equivalent of EUR 13.3 million) to be provided under the Russian Small Business Fund Framework.

Project Cost

RUB 1,020 million (equivalent of EUR 27.6 million)

Environmental Impact


Technical Cooperation

Up to EUR 150,000 under the Russia Small Business Technical Cooperation Special Fund (“TCSF”). The funds will be used to further improve Sovcombank’s proprietary scoring system for lending to Micro and Small Enterprises (“MSE”) and to help the bank develop secondary funding strategies for its MSE portfolio (e.g. through securitisation).

Company Contact

Mr. Sergey Bondarovich
Deputy CEO
Tel. +7(495) 763-33-16
Fax +7(495) 748-43-70


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

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Text of the PIP

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