PRIORBANK (EQUITY)

Location:

Belarus

Project number:

4499

Business sector:

Depository Credit (banks)

Notice type:

Private

Environmental category:

FI

Target board date:

16 Dec 1997

Status:

Completed

PSD disclosed:

11 Nov 1997

 

Project Description

An equity investment of ECU 2.75 million in Priorbank.

The project aims to:

  • support creation of a centre of banking excellence in Belarus;
  • enhance PB's corporate governance through the EBRD's representation on PB's Supervisory Board;
  • enable PB to increase its capital base and hence its lending to private sector enterprises in Belarus;
  • enhance international recognition both of PB and the Belarussian banking sector;
  • attract private sector investors into PB's share capital.

Transition Impact

As the first EBRD-financed stand-alone transaction in the private banking sector in Belarus, the project will:

  • have a strong demonstration effect, by setting out a model of successful business dealing in Belarus;
  • increase competition in the banking sector in Belarus;
  • provide strong support for a privately controlled bank and will contribute to the development of market infrastructure in the country.

The Client

Priorbank (PB), a commercial bank organised as a joint-stock company and incorporated under the laws of Belarus.

EBRD Finance

Subscription to newly issued ordinary shares of PB representing approximately 25 per cent of PB's authorised and paid-in ordinary share capital.

Project Cost

Not in excess of ECU 2.75 million.

Environmental Impact

The project has been classified as FI, and therefore does not require an Environmental Analysis or an Environmental Audit. In accordance with the Bank's Environmental Policy and Procedures, PB shall require its borrowers to comply, at a minimum, with local and national environmental, health and safety standards and regulations.

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)

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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.