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 Minsk Transit Bank (MTBank), a joint-stock company incorporated in Belarus, for onlending 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 Minsk Transit Bank in mobilizing 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 Minsk Transit 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.
MINSK TRANSIT BANK JSC
Minsk Transit Bank is a mid-sized privately-owned bank in Belarus ranked 11th by total assets among 24 banks as of end 2017 and is one of the important providers of MSME and retail finance in Belarus with a market share of 1.6 per cent at end-June 2018.
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). MTBank's past performance and annual environmental and social (E&S) reporting to date for the existing exposures has been satisfactory. MTBank 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 MTBank's loan will be required to comply with national environmental, health, safety and labour (EHSL) requirements.
Company Contact Information
+375 17 229 98 88 (ext. 1420)
Tolstogo Street, 10, Business Center "Titul", 220007 Minsk, Republic of Belarus
For business opportunities or procurement, contact the client company.
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Tel: +44 20 7338 7168
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