Moscow Credit Line

Location:

Russia

Project number:

3963

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

19 Nov 1996

Status:

Completed

PSD disclosed:

18 Oct 1996

Project Description

A five-year credit line of US$ 135 million to be made available to a group of six Moscow-based banks for on-lending to medium-term private sector construction and other investment projects in the Moscow city region.

Project objectives:

1) Support of private sector construction and other enterprises in Moscow, thereby assisting the transition process, especially with regard to the construction industry;
2) indirect financing of projects that the EBRD cannot finance itself due to their size;
3) support for Moscow as Russia's leading economic centre; and
4) continued support of the financial sector and financial intermediation in Russia.

Transition Impact

The loan will support the growth, development and strengthening of the construction, property and other economic sectors and the private sector in general by providing needed term funds for the development of private enterprises in Moscow.

The Client

A group of six Moscow-based banks to be funded as follows:

Rosvneshtorgbank - US$ 30 million - (Board Approved)
Tokobank - US$ 20 million - (Board Approved)
International Moscow Bank - US$ 20 million - (Board Approved)
Sberbank - US$ 30 million - (Awaiting Board Approval)
Uneximbank - US$ 20 million - (Awaiting Board Approval)
Roseximbank - US$ 15 million - (Awaiting Board Approval)

EBRD Finance

The US$ 135 million credit line will provide funding to the participating banks to promote the increase of medium-term lending to private sector construction and other investment projects in the Moscow city region.

Project Cost

US$ 135 million (ECU 108 million equivalent).

Environmental Impact

This financial intermediary project has been classified C/0, having no direct impact on the environment. The participating banks will follow the EBRD's Environmental Procedures for local banks in relation to all sub-loans financed through the credit line. In implementing these procedures, the participating banks will assess potential environmental issues associated with sub-projects which, at a minimum, are required to comply with local/national health and safety and environmental regulations and standards. The participating banks will report annually to the EBRD on environmental issues related to the credit line.

Technical Cooperation

None.

 

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

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 (pcm@ebrd.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.