ABSOLUTBANK SME CREDIT LINE

Location:

Russia

Project number:

35304

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

16 Nov 2004

Status:

Complete

PSD disclosed:

06 Oct 2004

Project Description

The proposed project consists of a senior loan in the amount of US$ 10 million for on-lending to private sector Small and Medium-sized  Enterprises (SMEs).

Transition Impact

The proposed project is expected to have transition impact in two main areas:
  • In supporting private sector SMEs by providing term funds the project will raise the level of financial intermediation and allow EBRD funds to reach SME sub-borrowers to finance their investment projects, for which long-term funding is currently not readily available.
 
  • The proposed project seeks to contribute to the transformation of Absolut Bank into an independent commercial bank working according to transparent principles of business conduct. Achievement of this goal is expected to increase Absolut Bank’s attractiveness to creditors and potential investors.

The Client

Absolut Bank was established in 1993 as a universal bank by a group of private entrepreneurs.  Currently, Absolut Bank is a medium-sized privately-owned bank that provides a full range of retail and corporate banking services.

EBRD Finance

US$ 10 million senior loan for on-lending to private SMEs

Project Cost

US$ 10 million.

Environmental Impact

AB will be required to comply with EBRD’s Environmental Procedures for Intermediated Finance through local banks, including ensuring compliance with the applicable national environmental, health and safety legislation, adherence with EBRD’s Environmental Exclusion List and submission of annual environmental reports to the Bank.

Technical Cooperation

None.

Company Contact

Mr. Nikolay Sidorov, Senior Deputy Chairman
Fax: (7 095) 935 0052
E-mail: nis@absolutbank.ru
Web site: www.absolutbank.ru
 

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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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