The proposed project envisages providing to Bank St. Petersburg a USD 30 million senior loan for on-lending to local small and medium enterprises (SME Loan) The project is designed to support Bank St. Petersburg’s SME lending program with longer tenors than currently available in the market.
By supporting the development of Bank St. Petersburg’s SME lending activities the Project will raise the level of financial intermediation in St. Petersburg region and allow EBRD funds to reach sub-borrowers requiring longer-term funding and trade finance products.
Open Joint-Stock Company “Bank Saint Petersburg”, a privately owned bank among the top 40 banks in Russia, with a broad branch network in the city of Saint Petersburg and a strategic focus on SME lending and retail banking.
A four-year senior loan of USD 30 million.
USD 30 million.
Bank St. Petersburg will be required to comply with EBRD’s Environmental Procedures for Intermediated Financing through Local Banks and the Environmental Procedures for Small and Micro Loans. These procedures require adherence to the EBRD Environmental Exclusion and Referral List, compliance with applicable national environmental, health and safety requirements and submission of an Annual Environmental Report to EBRD.
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