Prognoz Loan

Location:

Russia

Project number:

43890

Business sector:

Information and Communication Technologies

Notice type:

Private

Environmental category:

B

Target board date:

24 Jul 2012

Status:

Repaying

PSD disclosed:

20 Jun 2012

Project Dscription

The EBRD is considering providing a loan to Prognoz, the leading software developing company for Business Intelligence (“BI”) applications in the Russian market. The financing will enable Prognoz to implement its long-term growth strategy, expand internationally and extend BI offerings to a wide range of clients in government and private sectors.

The project will support development of standardized BI applications on the basis of proprietary PROGNOZ™ Platform, expansion of the company’s sales force in CIS markets and enhancement of the existing PROGNOZ™ Platform, a development toolkit for BI applications.

Transition Impact

The Project will facilitate the development of the local Russian company, a representative of the knowledge economy, with significant intellectual capital and linkages to local universities. EBRD financing will help the company to achieve more recognition in local and international markets and support promoting the company’s new standardized offerings to clients in the private sector, especially among small and medium sized companies that currently have limited access to such products.

Prognoz business intelligence applications are aimed to help the company’s clients to boost efficiency, streamline operations, optimize resource allocation and increase competitiveness by improving their decision making capabilities.


EBRD will also assist the company in improving its corporate governance principles and aligning them with the global best practices.

The Client

Prognoz is a leading Russian software developer of business intelligence applications, established in 1991 and headquartered in Perm, Russian Federation. The Company designs and markets sophisticated BI applications, developed based on the proprietary Prognoz platform, to the wide range of clients in public and private sectors

Prognoz BI applications help clients to improve decision making, monitor vital statistics and anticipate key trends and incorporate data integration & storage, monitoring, reporting and forecasting capabilities.

EBRD Finance

EBRD is considering providing a convertible loan in the amount of up to USD 30 million.

Environmental Impact

The project was categorised “B” which means that an environmental and social analysis was required by the Bank, in accordance with the 2008 Environmental and Social Policy and Performance Requirements (PRs) (706KB - PDF)

The project is unlikely to be associated with significant environmental and social impacts. Due diligence including a review of the completed EBRD Environmental & Social and Human Resources Due Diligence Questionnaires showed that the company is in compliance with relevant law and in line with PRs. For the upcoming project, the company is required to ensure that the project is in compliance with PRs and submit an annual environmental and social report to the Bank.

Technical Cooperation

None.

Company Contact

Dmitry Kolpakov, Head of corporate financing centre
T. + 7 495 772 78 88, +7 342 240 36 63
Email: Dmitry.Kolpakov@prognoz.com
Web: www.prognoz.com

 

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.