Translated version of this PSD: Russian
The Project entails a loan to Orient Express Bank (“OEB”) under EBRD’s “Russia Small Business Fund” (“RSBF”) micro and small enterprise (“MSE”) lending program. OEB with its corporate headquarters in Khabarovsk (Russian Far East) has since 2007, when it became an EBRD partner bank, evolved into one of the largest MSE lenders in Russia. Thanks to OEB’s network of outlets, the largest among any private sector bank in Russia by the Central Bank of Russia’s count, and its geographic outreach, encompassing all eight Federal Districts of the Russian Federation, the Project will contribute to improving MSEs’ access to finance, in particular in underbanked regions in Siberia and the Russian Far East.
The project, through providing access to finance to MSE, including in remote regions, will foster private-sector development across all Federal Districts of the Russian Federation, including the North-Caucasus Federal District. Thereby the Project will contribute to market expansion for MSE lending, enhance competition in smaller towns where OEB is sometimes the only significant alternative to state-controlled lenders, and help demonstrate to other lenders the economic sustainability of a highly efficient approach to MSE lending.
OEB was set up in 1991 but embarked on a retail and MSE lending strategy only in 2007. OEB’s MSE lending department was set up the same year, under guidance and with technical co-operation (“TC”) support from EBRD’s RSBF. Since then, OEB has evolved into a retail and MSE lender of federal importance, which has among its shareholders “Barings Vostok Capital Partners” (where EBRD is invested) and the IFC.
Senior loan of RUB 1.68 bn from EBRD, with another RUB 0.02 bn co-financed by the “Russia Small Business Investment Special Fund”. The overall maturity of the loan is three years.
RUB 1.7 bn.
Categorised FI. Orient Express bank (OEB) has been satisfactorily applying the EBRD's E&S requirements under existing transactions and will be required to continue to comply with the EBRD's PR2 and PR9. OEB will submit reports to the Bank on the RSBF and RSECF loans and on environment, health and safety and labour issues associated with its operations and portfolio.
Between 2008 and 2011, OEB received TC support, funded by Japan and the Russia Small Business Technical Assistance Special Fund and implemented by EBRD consultants.
TC support helped OEB to develop and strengthen internal capacities for MSE lending and expand lending activities to new regions.
Alexander Tsakunov, Head of project group
9, Sadovnicheskaya Embankment
115035 Moscow, Russian Federation
Tel.: +7 (495) 780 51 00 ext. 15194
For business opportunities or procurement, contact the client company.
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Tel: +44 20 7338 7168
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