Translated version of this PSD: Russian
The project includes provision of a sovereign loan of up to €50 million in favour of the Republic of Belarus (the "Borrower") for the purpose of issuing a subordinated loan by the Borrower to Belinvestbank (BIB), an open joint-stock company incorporated in Belarus.
The main objective of the Project is to support capitalisation of Belinvestbank and the expansion of operations in line with the approved business strategy. This transaction represents the third step of its staged pre-privatisation engagement with Belinvestbank, following the provision of finance and the beginning of the implementation of a comprehensive institutional building programme.
The Project will further support the process of commercialisation and the eventual privatisation of a state-owned bank, as agreed in the MoU with the authorities in 2015. The Project will contribute to the promotion of private ownership in the context of the state-dominated banking sector. The subordinated loan, which is Tier-2-compliant, will strengthen BIB's capitalisation to support the implementation of BIB`s business strategy, which includes the expansion of lending to private MSMEs.
The Borrower is the Republic of Belarus (Caa1, B-, B- by Moody`s, Fitch and S&P respectively with stable outlook) which will use the proceeds of the sovereign loan for the purpose of provision of subordinated loan to the Belinvestbank.
Belinvestbank (BIB) is a state owned bank ranking fifth by total assets among 24 banks in Belarus with a market share of 5.8 per cent at end-1Q2017. BIB has a network of 34 regional branches and 115 sale points with a full range of services to businesses and retail clients.
EBRD Finance Summary
Total Project Cost
Environmental and Social Summary
Categorised FI (2014). BIB is an existing client and to date it's E&S performance and compliance with the EBRD's Performance Requirements (PRs) has been satisfactory as demonstrated through the recent Sustainability Index report submitted to the EBRD. During a monitoring visit undertaken by ESD in 2016 it was confirmed that BIB had adopted their own E&S Policy and plan to develop an Environmental and Social Management System and Occupational Health and Safety system to achieve certification to ISO 14001 and OHSAS 18001. The E&S risks associated with BIB's existing
loan portfolio are deemed to be low-medium risk. For this transaction BIB will be required to continue complying with EBRD's PRs 2, 4 and 9, implement the EBRD's Environmental & Social (E&S) Risk Management Procedures for Corporate Loans, SME and Micro Loans and submit annual reports to the Bank. For any Category A projects BIB will be required to apply PRs 1-8 and 10 and refer such projects to ESD. BIB should also encourage new staff to undertake the EBRD's on-line E&S Elearning training for FIs.
Company Contact Information
+375 17 239 55 18
+375 17 239 55 18
29, Masherova Avenue, 220002, Minsk Republic of Belarus
For business opportunities or procurement, contact the client company.
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