Translated version of this PSD: Russian
Provision of a senior unsecured loan in the amount of up to US$15 million equivalent in local currency to Priorbank, a joint-stock company incorporated in Belarus, for on-lending to local private micro, small and medium enterprises, to be comprised of two tranches with the second tranche (US $10 million) uncommitted and available at the sole discretion of the EBRD.
The Project will represent an additional local currency source for Priorbank and enable them to expand and facilitate local currency lending to private micro, small and medium-sized enterprises ("MSMEs") in Belarus, while helping MSMEs avoid taking on currency exchange risks. The Project will increase local currency intermediation in Belarus thus supporting the development of the domestic money and capital markets in the country and fostering a more stable financial environment.
The Project will support the competitiveness of Priorbank by facilitating the development of its MSME loan portfolio with a focus on new and regional borrowers. Providing the local currency funding as well as requirements to comply with financial covenants will contribute to resilience of the institution.
Priorbank is the seventh largest bank among 24 banks in Belarus with 5.5 per cent market share by total assets as of June-2018. It is majority-owned by Raiffeisen Bank International and is the largest private bank with around 90 sales offices across the country. Priorbank has been a client of the EBRD since 1996 through multiple lending facilities and equity participation.
EBRD Finance Summary
(equivalent of BYN 30,000,000)
Total Project Cost
(equivalent of BYN 30,000,000)
Environmental and Social Summary
Categorised FI (2014 ESP). Priorbank operates in compliance with the EBRD's PRs 2, 4 and 9, and its past performance and annual environmental and social (E&S) reporting to date for existing exposures has been satisfactory. The bank will need to continue complying with PRs 2, 4 & 9, implement the E&S Risk Management Procedures for MSME Loans, ensure that appropriate credit staffs undertake the Bank's on-line E&S E-learning training for FIs, and submit annual E&S reporting via Sustainability Index to the EBRD. Sub-borrowers financed through Priorbank's loan will be required to comply with national environmental, health, safety and labour (EHSL) requirements.
Company Contact Information
+375 17 289 92 13
31-A, V Khoruzhey St., 220002 Minsk, Republic of Belarus
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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
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 (email@example.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.