UNEXIMBANK - MOSCOW CREDIT LINE SUBPROJECT

Location:

Russia

Project number:

3965

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

25 Mar 1997

Status:

Completed

PSD disclosed:

04 Mar 1997

 

Project Description

The Moscow Credit Line Framework is a five-year credit line of US$ 135 million to be made available to a group of six Moscow-based banks, including Uneximbank, for on-lending to medium-term private sector construction and other investment projects in the Moscow city region. Uneximbank will receive a loan of US$ 20 million under the Framework.

Project objectives:

1) Support of private sector construction and other enterprises in Moscow, thereby assisting the transition process, especially with regard to the construction industry;
2) indirect financing of projects that the EBRD cannot finance itself due to their size;
3) support for Moscow as Russia's leading economic centre; and
4) continued support of the financial sector and financial intermediation in Russia.

Transition Impact

The loan will support the growth, development and strengthening of the construction, property and other economic sectors, and the private sector in general by providing much-needed term funds for the development of private enterprises in Moscow.

The Client

Uneximbank is the largest private bank operating in Russia. It has over 400 major blue chip corporate customers and has strong dealings with the government.

EBRD Finance

The credit line will provide funding to Uneximbank to promote the increase of medium-term lending to private sector construction and other investment projects in the Moscow city region.

Project Cost

US$ 20 million (ECU 16 million).

Environmental Impact

This financial intermediary project has no direct impact on the environment. The participating banks will follow the EBRD's Environmental Procedures for Local Banks in relation to all sub-loans financed through the credit line. In implementing these procedures, the participating banks will assess potential environmental issues associated with sub-projects which, at a minimum, are required to comply with local/national health, safety and environmental regulations and standards. The participating banks will report annually to the EBRD on environmental issues related to the credit line.

Technical Cooperation

TC funds were obtained to fund a property adviser to assist the participating banks in analysing construction projects.

Company Contact

 

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

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.

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