The proposed project envisages:
1. providing a loan of RUB 90 million (USD 3 million equivalent) to Primsotsbank, a private bank operating in the Far East for on-lending to SMEs. The Project is aimed at supporting the bank’s SME lending programme with longer tenors, which will benefit the local SME sector which is currently underserved by local banks.
2. investing in the equity of the bank, as a second stage to be implemented in 2006.
The transition impact potential of the Project arises from
(i) increased financial intermediation in favour of SMEs
(ii) enhanced competition in the local banking sector
(iii) implementation of good governance principles and high business standards in a regional bank operating in the Far East.
Primsotsbank, a small privately owned regional bank established in 1993 and located in the Far East with a good regional network and a strategic focus on SME lending.
A four-year senior loan of RUB 90 million (equivalent of USD 3 million)
An equity investment of up to USD 4 million
RUB 90 million (equivalent of USD 3 million) for the loan and USD 4 million for the equity investment.
Primsotsbank will be required to comply with EBRD’s Environmental Procedures for SME financing which require adherence to the Bank’s Environmental Exclusion and Referral List, compliance with the applicable national environmental, health and safety requirements and submission of an Annual Environmental Report to the Bank.
Ms. Olga Ivaschuk, Head of International Banking Department
Telephone: +7 4232 –300299
Fax: +7 4232 – 422076
For business opportunities or procurement, contact the client company.
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Tel: +44 20 7338 7168
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