RAIFFEISEN BANK RUSSIA SENIOR LOAN

Location:

Russia

Project number:

23971

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

11 Dec 2001

Status:

Completed

PSD disclosed:

30 Oct 2001

Project Description

The EBRD is proposing a US$ 30 million senior loan to Raiffeisenbank Austria (Moscow), which will lengthen the maturity of the bank’s liabilities and allow it to expand its lending operations. The project aims to finance anticipated loan growth to the real sectors of the economy in Russia.

Transition Impact

The facility will allow RBR to offer its strong local clients the availability of longer-term financing than is otherwise available in the market. This is expected to support growth in the real economy while helping the bank to avoid a mismatch of its assets and liabilities.

The Client

Raiffeisenbank Austria (RBR) was established in 1997 as a 100 per cent owned subsidiary of Raiffeisen Zentralbank Osterreich AG of Austria. RBR is a fully licensed commercial bank that offers a complete range of banking products for both domestic and cross-border operations in both roubles and foreign currencies.

EBRD Finance

US$ 30 million senior loan (€33.6 million).

Project Cost

US$ 30 million (€33.6 million).

Environmental Impact

The project was screened a financial intermediary (FI). RBR will apply the EBRD’s Environmental Procedures for Intermediated Financing through Local Banks to its lending activities under the proposed senior loan facility.

Technical Cooperation

None.

Company Contact

 
 

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