MOSCOW INDUSTRIAL BANK

Location:

Russia

Project number:

4015

Business sector:

Depository Credit (banks)

Notice type:

Private

Environmental category:

FI

Target board date:

09 Sep 1997

Status:

Cancelled

PSD disclosed:

28 Jul 1997

 

Project Description

A loan of US$ 30 million for a term of five years.

The principal objectives of the project are to:

  • support a large FIDP (Financial Institutions Development Programme) bank that is committed to the local market and expansion of its term-lending operations for investment purposes;
  • finance indirectly investment projects that the EBRD cannot finance itself due to their small size; and
  • increase the availability of longer-term funding in the Russian Federation.

Transition Impact

The transition impact of the project will be achieved: firstly, through the expansion of the availability of finance for private companies; secondly, by fostering competition in the financial services market; and thirdly by enhancing the standards of corporate governance and business conduct in MIB and its customers.

The Client

Moscow Industrial Bank (MIB) was created in 1990 as a spin-off of the Moscow branch of Promstroibank. MIB is a universal commercial bank with a broad industrial client base. The bank operates branches in Moscow and the Moscow region, St Petersburg, Vladimir, Arkhangelsk and Volzhsk. As of 31 December 1996 the total assets and shareholders' equity of the bank amounted to an equivalent of US$ 505 million and US$ 117 million respectively.

EBRD Finance

An EBRD loan of US$ 30 million (ECU 26.5 million) for a term of five years will be used for the financing of medium and long-term private sector investment projects.

Project Cost

US$ 30 million.

Environmental Impact

MIB will carry out its operations in accordance with the EBRD's Environmental Procedures for Local Banks, which provide for the integration of environmental due diligence into MIB's credit appraisal processes and a requirement that borrowers comply, at a minimum, with national and local health, safety and environmental regulations and standards and public consultation requirements. MIB will submit annual environmental reports to the EBRD.

Technical Cooperation

None

Company Contact

 

 

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.