Credit Bank of Moscow SME Credit Line

Location:

Russia

Project number:

35738

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval 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

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

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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