Translated version of this PSD: Russian
Provision of a senior unsecured loan in the amount of up to US$ 10 million equivalent in local currency to Belarusky Narodny Bank (BNB-Bank), a joint-stock company incorporated in Belarus, for on-lending to local private micro, small and medium enterprises, to be comprised of two equal tranches with the second tranche (US$5 million) uncommitted and available at the sole discretion of the EBRD.
The Project will assist Belarusky Narodny Bank in mobilising external funds in local currency which will help to diversify the bank's funding base and expand local currency lending to private micro, small and medium-sized enterprises ("MSMEs") in Belarus.
The Project will promote local currency lending in Belarus thus supporting the development of the domestic capital market in the country and de-dollarization of the economy as well as fostering a more stable financial environment.
The Project will support the competitiveness of Belarusky Narodny Bank by facilitating the development of its MSME loan portfolio with a focus on new and regional borrowers. Requirements to comply with financial covenants and portfolio quality ratios will also contribute to the resilience of the institution.
BELARUSKY NARODNY BANK OJSC
Belarusky Narodny Bank is a mid-sized privately-owned bank in Belarus ranked 13th by total assets among 24 banks at YE17 and is majority-owned by JSC Bank of Georgia (Georgia). Primarily SME focused, BNB-Bank serves 9.4 thousand unique SME clients and 87.8 thousand unique individual clients through 16 branches.
EBRD Finance Summary
(equivalent of BYN 20,000,000)
Total Project Cost
(equivalent of BYN 20,000,000)
Environmental and Social Summary
Categorised FI (2014 ESP). Belarusky Narodny Bank's past performance and annual environmental and social (E&S) reporting to date for the existing exposures has been satisfactory. BNB-Bank will need to comply with PRs 2, 4 & 9, implement the E&S Risk Management Procedures for MSME Loans, ensure that appropriate credit and risk management staff undertake the Bank's on-line E&S E-learning training for FIs, and submit annual E&S reports via the FI Sustainability Index to the EBRD. Sub-borrowers financed through the BNB-Bank's loan will be required to comply with national environmental, health, safety and labour (EHSL) requirements.
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