EESTI MAAPANK EQUITY INVESTMENT

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 3503

Status Complete

Location

Estonia

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 3503

Status Complete

Location

Estonia

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

22 Apr 1997

Disclosure date

25 Mar 1997

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

An equity investment in Estonian kroons of up to the equivalent of DM 3 million.

The principal objectives of the project are to:

improve the capitalisation of EMP;
enable EMP to expand its business operations and to increase lending to private sector enterprises, primarily using its own resources;
enhance EMP's corporate governance and stature, both domestically and overseas;
balance the Tallinn-concentrated economic situation in Estonia;
enhance competition in the Estonian banking market.

Transition Impact

EMP is an important institution in the local market, especially in rural areas and outside Tallinn. EMP is commercially oriented, provides a full range of corporate and retail banking services and has a reputation for good client service. In order to expand, and to remain competitive, EMP plans to raise its capital base.

The transition impact of the project will be achieved by:

investing in a bank which plays a substantial role in diversified regions outside Tallinn. The additional sources of finance would significantly support the improvement of the business environment in smaller cities and rural areas;
fostering competition in the financial services market, especially by balancing the activities of Tallinn-based commercial banks.

The Client

AS Eesti Maapank (EMP) is a joint-stock company incorporated under the laws of Estonia. It is a majority privately owned and privately controlled commercial bank.

EBRD Finance

The project will consist of the share subscription of 2.4 million newly issued shares of EMP, representing approximately 19.4 per cent of EMP's share capital.

Project Cost

DM 3 million (ECU 1.6 million), all of which will be financed by the EBRD.

Environmental Impact

EMP will carry out its operations in accordance with the EBRD's Environmental Procedures for Local Banks, which provide for the integration of environmental due diligence into EMP's credit appraisal processes and a requirement that borrowers comply, at a minimum, with national and local health, safety and environmental regulations and standards and public consultation requirements. EMP will submit annual environ-mental reports to the EBRD.

Technical Cooperation

None

Company Contact

PSD last updated

01 Feb 2019

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

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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