Project Description
The proposed project consists of up to USD 20 million mortgage loan to Bank Forum.
The EBRD long-term funds will be used to provide long-term loans to individuals for purchasing, constructing, renovating, repairing and/or re-mortgaging their residential property in Ukraine.
The Mortgage Loan and an associated TC will support a proven partner bank in Ukraine in expansion of its mortgage lending and improving mortgage operations.
Transition Impact
The project and related TC will have a significant transition impact in the following areas:
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support development of the mortgage sector in Ukraine, which is in the early stage of development;
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increase long-term funds available to Ukrainian banking system and would enable increasing number of people to access bank financing for purchasing, renovating and/or constructing residential property;
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support Bank Forum in implementing best international practice in its mortgage operations and develop standardised mortgage product for future securitisation.
The Client
Bank Forum is a joint stock company organised under the laws of Ukraine, with total assets USD 994 million, shareholders’ equity USD 96 million, and profit USD 3.4 million in H1 2006. The bank has more than 140 branches and banking outlets all across Ukraine.
EBRD Finance
Up to USD 20 million mortgage credit line in two tranches of USD 10 million each, with individual tranche maturities of up to 10 years.
Project Cost
USD 20 million.
Environmental Impact
Forum Bank is familiar with EBRD’s environmental requirements within its existing operations. Forum will be required to comply with the EBRD’s Environmental Procedures for Residential Mortgage Lending. Forum will continue to submit Annual Environmental Reports to the Bank.
Technical Cooperation
For mortgage loan, the Bank will engage Consultants to assist Forum in upgrading its mortgage lending policies and procedures to meet the Bank’s List of the Minimum Standards and Best Suggested Practices. The TC project will be done under Ukraine Mortgage Framework funded by CIDA as individual call-off.
Company Contact
Mr Oleksiy Pavlov, Head of International Business
Tel: +38 044 205 3559
Fax: +38044 5810432
E-mail: apavlov@forum.com.ua
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
