Avtobank - Credit Line/Equity Investment

Location:

Russia

Project number:

3022

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

03 Dec 1996

Status:

Completed

PSD disclosed:

04 Nov 1996

Project Description

Equity investment and a credit facility for medium and long-term on-lending to Russian enterprises. The main objective is to assist the development and corporate growth of Avtobank through strengthening its capital base and to provide medium and long-term funds for on-lending to private industrial enterprises.

Transition Impact

Promotion of the development of an effective, market-oriented financial sector; potential enhancement of the equity market; provision of term finance for private sector investment activities.

The Client

Avtobank is a universal bank with operations centralised in its headquarters in Moscow and the Moscow region. The bank commenced its activities in December 1988 and was granted a full licence in June 1992. Its original industrial focus has been diversified to a broader sectoral spread of activities and ownership.

EBRD Finance

Equity investment of US$ 20 million.
Credit facility of US$ 30 million.

Project Cost

US$ 50 million (ECU 40.45 million).

Environmental Impact

This project has no direct impact on the environment and has been classified C/0 (it does not require an environmental analysis or an environmental audit). Avtobank will carry out its operations in accordance with the EBRD's "Environmental Procedures for Local Banks". In implementing these procedures, Avtobank will require its borrowers to comply with national /local health and safety, environmental and public consultation requirements. Avtobank will submit annual environmental reports to the EBRD.

Technical Cooperation

None.

 

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

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.