Reconversion & Development Bank



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

11 Dec 2007



PSD disclosed:

26 Nov 2007

Project Description

At end -2007, EBRD acquired 25%+1 share stake in RDB bank (Minsk, Belarus) for total consideration of up to BYR 14,400 million (USD 6.7 million equivalent ) by subscribing to newly issued shares and 49-year transferable subordinated loan.

EBRD’s equity investment helped to strengthen RDB’s capital base, improve its business processes and increase efficiency of supervisory and management boards.

The recently approved capital increase for an amount of EURO 1.4 million aimed at adjusting RDB’s equity to the new regulatory minimum for deposit taking banks and at reinforcing the bank’s sources of long-term funds.

It will enable RDB to sustain its lending to the real economy. Indeed, the project will support the expansion of RDB lending operations to private MSMEs and retail customers in Belarus.

Transition Impact

With this project, EBRD supports a dynamic privately owned bank in a banking system with over 70% state ownership. The proposed project will assist RDB to maintain its existing loan portfolio and facilitate new lending to MSME private clients in Belarus, a category of clients that experiences particular difficulty in access to funding.

Thus, EBRD contributes to enhanced competition in the sector, and further helps raise standards in the scope and quality of financial services provided to Belarusian companies and individuals.

EBRD consultants retained for implementing the Institutional Building Plan (IBP) and board participation will transfer important business skills and practices to the management and employees of the bank.

The Client

RDB is a privately owned commercial bank operating in Belarus. RDB ranked 19th among 32 banks operating in Belarus by total assets. Focussing on retail and MSME business, RDB has been among the most profitable banks in the country.

EBRD Finance

BYR 14,400 million (USD 6.7 million equivalent) for 25%+1 share stake in RDB
EUR 1.4 million via participation in equity increase

Project Cost

EUR 5.3 million.

Environmental Impact

RDB has demonstrated compliance with applicable EBRD environmental requirements. As part of its existing agreements with EBRD, it will continue to be required to apply the Environmental Procedures for Intermediated Financing through Local Banks and the Environmental Procedures for Small and Micro Loans.

RDB has also demonstrated full compliance with applicable national environmental, health and safety and labour requirements. RDB will also need to ensure that their new SME/MSE sub-projects meet the national environmental, health and safety and labour requirements. RDB will be required to adhere to the EBRD’s Environmental Exclusion and Referral List for financial intermediaries and to submit annual environmental reports to the Bank.

Technical Cooperation

RDB benefits from its participation in the Micro Enterprise Credit Advisors technical assistance project, which supports the EBRD Belarus MSE/SME Financing Facility, and is funded from EBRD Special Shareholder Fund (SSF).

The Technical Assistance project related to implementation of an Institutional Building Plan at RDB started in August 2009.

Company Contact

Yuriy Martynov, Chairman of the Board +375 17 269 23 22



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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