The EBRD is considering the following two transactions with Minsk Transit Bank (MTB) in Belarus:
1) A Syndicated MSME A/B Loan in the aggregate amount of up to USD 20 million, of which the EBRD’s portion (A loan) will be up to USD 5 million and the remaining (B loan) will be syndicated on “best-efforts basis” to interested financial institution(s). The loan will be the first syndicated transaction arranged by EBRD for MTB.
2) Up to USD 5 million MSME loan in local currency which will provide an additional source of LCY funding to MTB and its MSME clients. The sub-loans will be on-lent for up to five years tenor and used for capital expenditures and working capital.
The proceeds of the proposed transactions are for on-lending to private MSMEs in Belarus and are intended to enhance MTB’s capacity to continue supporting to private MSMEs .
The overall project is expected to have a transition impact through:
- The Syndicated MSME Loan will act as a catalyst for mobilising external financing and increasing access of local commercial banks to the foreign capital markets. It will contribute with medium to long term external funds for continued support of private MSME’s in Belarus.
- The local currency MSME loan is the first EBRD transaction in BYR for MTB and the second in Belarus. It presents an additional LCY source for MTB and will enable them to increase and facilitate local currency lending, while improving procedures in the area of managing FX risk.
Both transactions will facilitate the access to bank financing for private MSMEs in conditions of tightened credit and macroeconomic uncertainty in the country.
MTBank is a medium sized privately-owned bank in Belarus (11th by assets as of end 2013) established in 1994. The banks has been a client of EBRD since 2007 and is one of the important providers of MSME and retail finance in Belarus with proven track record, good reputation and an experienced management team.
Loan is to include senior debt product (for private sector MSMEs) and a syndicated loan.
Up to USD 25 million, including:
- Up to USD 20 million Syndicated MSME Loan; and
- Up to USD 5 million Local Currency MSME Loan
Categorised FI. MTB is an existing client of EBRD and its past environmental reporting has been satisfactory. In line with PR9, the bank will need to adhere to the EBRD's Environmental and Social Exclusion and Referral Lists and continue to submit annual environmental and social reports to EBRD, including reporting on sub-projects. Sub-borrowers financed through the MTB's credit line under these facilities will be required to comply with national environmental, health, safety and labour (EHSL) requirements.
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