Project number:


Business sector:

Non-depository Credit (non bank)

Notice type:


Environmental category:


Approval date:

14 Oct 2003



PSD disclosed:

12 Sep 2003

Project Description

The proposed project envisages provision of term financing to the Russian Standard Bank (RSB) to facilitate development of its consumer finance operations and support expansion into regions of the Russian Federation. The loan will diversify RSB's funding base and leverage its capital.

Transition Impact

The project will contribute to further development of consumer finance in Russia, which is still in its infancy. RSB was the first specialised institution in Russia to offer western-style consumer finance. RSB's success in the consumer finance sector promotes competition and business innovation, which in turn leads to reduced rates, broader range of consumer finance products and affordability of loans to a larger number of households.
With additional funding, RSB will be able to achieve a broader regional outreach, thus making consumer finance available to a larger number of Russian families. At present consumer finance is available predominantly in large metropolitan areas.
The project has continuity with the original transaction with RSB which closed in October 2002. RSB's example confirms that well-managed private banks can compete successfully with state banks and pocket banks based on a strong business model, rather than political connections or state support.

The Client

Russian Standard Bank - a privately owned bank and the first Russian commercial bank with a strategic focus on consumer finance. Headquartered in Moscow.

EBRD Finance

US$ 20 million term loan for financing development of consumer finance portfolio, of which US$ 10 million shall be utilised for general consumer finance and US$ 10 million for car loans.

Project Cost

US$ 20 million

Environmental Impact

There are no environmental risks associated with the consumer financing, therefore there will be no environmental requirements associated with this operation.

Technical Cooperation


Company Contact

Nina Filimonova, Vice President, International Department.
Tel.: +7 095 797 84 05
Fax: +7 095 797 84 40

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

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

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

Share this page: