Mortgage Framework



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

26 Oct 2005



PSD disclosed:

01 Sep 2005

Project Description

The proposed project is aimed at strengthening the Russian banks’ residential mortgage lending capacity and skills. Development of affordable residential mortgage financing in Russia through Russian partner banks, especially in the regions, is a key aspect of the proposed Framework.

Under the proposed project the Bank would extend credit lines directly to the selected partner banks committed to developing residential mortgage lending. The Framework partner banks would utilise the funds for on-lending to eligible local borrowers. It is anticipated that the Framework funds will be fully drawn within 2005-2007.


Transition Impact

The proposed transaction would foster the development of residential mortgage finance in Russia by supporting selected partner banks’ mortgage lending activities.

The key transition impact areas will be: market-economy promotion as a result of expansion of affordable residential mortgage financing in Russia; and transfer and dispersion of skills as a result of improvement of partner banks’ residential mortgage financing operations.

Participating banks will be required to comply with EBRD’s Mortgage Loan Minimum Standards, which are based on the best practice of the world’s leading mortgage finance institutions.


The Client

The project is aimed at the Bank’s existing partner banks among:

(i) regional banks

(ii) mid-sized Moscow-based banks.

Each PB will be assessed individually in accordance with specific criteria, which among other things include: partner bank’s financial strength; partner bank’s strategic interest in developing residential mortgage financing; partner bank’s strong regional presence.

EBRD Finance

USD 50.0 million. The funds under the Framework will be disbursed to selected partner banks for mortgage on-lending to local borrowers.

Project Cost

USD 50.0 million.

Environmental Impact

Partner banks will need to implement the EBRD’s Environmental Procedures for Residential Mortgage Lending for all mortgage loans under the credit line which stipulates that a property survey is conducted for each loan as part of their due diligence. The survey should include consideration of potential site contamination, use/presence of hazardous materials in construction, risk of flooding, or seismic activity and compliance with the applicable national environmental, health and safety standards and regulations. Each Partner Bank will also need to submit an annual environmental report to the EBRD.

Technical Cooperation

Partner banks approved under the Framework will be supported where necessary with technical assistance funds committed under the Regional Bank Institution Building Program. The consultants hired for the project under the technical assistance programme will train partner banks’ staff and assist in developing and expanding mortgage lending operations.

Company Contact

Alexander Saveliev

Tel: +44 20 7338 6672
Fax: +44 20 7338 6119



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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