The proposed project envisages extension of term financing to Impexbank (Impex) to assist the bank in diversifying its business by expanding lending to private sector small and medium sized enterprises (SME) operating in the Russian Federation.
The project will promote the extension of financial intermediation in Russia by using Impex’s broad regional network to reach Russian regional SME clients with longer tenor funding and trade finance products.
The project is also expected to foster competition in the banking sector by giving borrowers in different regions across Russia greater choice in accessing banking products which best fit their needs.
The project seeks also to set high standards of corporate governance and financial discipline for Impex by introducing a number of performance benchmarks for transparency and business conduct. Adherence to these principles will contribute to strengthen Impex’s profile in the local and international financial markets.
Impex is a private universal bank among top 30 Russian banks in terms of asset size, majority owned by Mr. Boris Ivanishvili. Impex is headquartered in Moscow and carries out its activities through 30 offices in Moscow and 45 full service regional branches located in 44 regions of the Russian Federation.
Term Loan of USD 20 million (EUR 17 million).
USD 20 million (EUR 17 million).
Impexbank will comply with EBRD’s Environmental Procedures for Intermediated Financing through Local Banks for each respective project components. Impexbank will also need to submit an annual environmental report to the Bank.
Alexey Korovin, Deputy Chairman of the Management Board
Tel: +7 095 258 3220
Fax: +7 095 248 1370
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