Credit Bank of Moscow SME Credit Line

Location:

Russia

Project number:

35738

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

17 May 2005

Status:

Completed

PSD disclosed:

13 Apr 2005

Project Description

The proposed project is a senior loan of USD 10 million to Credit Bank of Moscow, a medium-sized commercial bank operating in Moscow and the Moscow region of Russia, for on-lending to local private sector Small and Medium-sized Enterprises (SMEs).

Transition Impact

Significant transition impact is expected in the following areas:

1. By supporting private sector SMEs by providing medium and long term funds, the project will raise the level of financial intermediation in Moscow and Moscow region and allow EBRD funds to reach sub-borrowers requiring longer-term investment funding, which is currently not available to them.

2. The project will support the institutional and financial strengthening of Credit Bank of Moscow. It will allow the bank to provide a wide range of services and products to its SME clients, and to compete in this market segment with state-owned and larger privately owned banks.

3. The project will further contribute to the adoption by the bank of high integrity and corporate governance standards. This will contribute to help Credit Bank of Moscow to secure additional funding opportunities from other creditors and investors going forward.

 

The Client

Credit Bank of Moscow, a commercial bank headquartered in Moscow with total assets of USD 400 million and providing a full range of retail and corporate banking services.

EBRD Finance

Up to 5-year senior loan of USD 10 million.

Project Cost

USD 10 million.

Environmental Impact

Credit Bank of Moscow 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

Andrey Butukhanov, Head of Financial Institutions Department

Fax: +7 095 795 0211

E-mail: butukhanov@mkb.ru
Website: www.mkb.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

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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.