RSBF - Metallurgical Commercial Bank Loan

Location:

Russia

Project number:

43020

Business sector:

Notice type:

Private

Environmental category:

FI

Target board date:

08 Nov 2011

Status:

Signed

PSD disclosed:

07 Oct 2011

Translated version of this PSD: Russian

Project Description

The EBRD is considering providing loans of RUB 350 million (RSBF MSE loan) and RUB 400 million (Energy Efficiency loan) to Metcombank, a private medium-sized regional bank headquartered in Northern Russia and with presence in other Russian regions. The Project is aimed at supporting the MSME sector in the regions of the bank’s operations. The RSBF MSE loan is due to be provided under RSBF Framework and would be supported by RUB 150 million from Investment Special Fund. The Energy Efficiency loan would be provided under Russian Sustainable Energy and Carbon Finance Facility (RSECF).

Transition Impact

The transition impact potential of the Project is expected in the following areas:

  • The Project will support the bank’s growth and allow it to increase financial intermediation to MSMEs in the regions where the bank is present. The project will help the bank to provide longer-term funding to local companies and demonstrate the benefits of energy conservation. The project will also support a bank committed to diversification.
  • The Project will be complemented by intensive technical assistance through on-site consultants under the RSBF and RSECF. This technical assistance will facilitate skills transfer, which will improve the bank’s MSE lending capabilities as well as build its expertise in energy efficiency projects.

The Client

Metcombank is a midsize regional bank with a presence in 12 Russian cities in the European part of Russia. A member of the Severstal Group. the bank embarked on an expansion and diversification strategy to become an efficient universal bank providing services to MSMEs and individuals across the number of regions.

Metcombank has B3/positive rating from Moody’s.

EBRD Finance

A four-year loan of RUB 350 million for MSE finance, including RUB 150 million provided by the Russia Small Business Investment Special Fund.

Project Cost

RUB 750 million.

Environmental Impact

Metcombank will be required to: - Comply with EBRD's PR2 and PR9; - Implement EBRD's Environmental and Social Procedures for Corporate Loans, Procedures for Small and Micro loans and the Environmental and Social Procedures for Trade Finance. - Provide to EBRD annual reports on environmental and social matters and the implementation of PR2 and PR9.

Technical Cooperation

RSBF MSE loan will be supported by intensive technical assistance under the RSBF framework through on-site consultants funded by Russia Small Business Technical Cooperation Special Fund. Energy Efficiency loan will be supported by the TC funding available under RSECF and provided by GFA Consulting Group Gmbh/MVV decon Gmbh, funded by EBRD Shareholders Special Fund and German Government.

Company Contact

Youry Nikishev
Deputy CEO
E-mail: Y.Nikishev@metcombank-moscow.ru
Tel: (495) 783-44-30
Fax: (499)159-11-74

 

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