The proposed project envisages extension of term financing to Ural-Siberian Bank (Uralsib) to build upon the achieved results in lending to private sector small and medium sized enterprises (SME) operating in the Russian Federation. In addition, the project envisages extension of the trade-finance facility and warehouse receipt programme facility to support Uralsib’s respective activities.
The project will promote financial intermediation and development of the real sector economy. Strengthening private sector banks and increasing competition in lending to private SMEs will facilitate provision of better quality banking services and contribute to satisfy the strong demand in this sector. Uralsib's commercial success in this area as well as in trade-finance and agricultural commodities financing may prompt other players to actively engage in product innovation and streamlining of operations which will lead to a greater sector-wide efficiency.
The project will also promote the adoption of high standards for corporate governance and business conduct.
Uralsib is a strong nation-wide player headquartered in Ufa, Republic of Bashkortostan and provides a wide range of banking services to legal entities and individuals across the Russian Federation. Uralsib operates through more than 330 offices in 70 cities across Russia.
a) Term Loan US$ 30 million (€ 23 million);
b) TFP exposure US$D 10 million (€ 8 million);
c) Russia Small Business Fund – Term loan US$ 10 million (€ 8 million);
d) Warehouse Receipt Programme – US$ 5 million (€ 4 million)
US$ 55 million (€ 43 million).
Uralsib will be required to comply with EBRD's Environmental Procedures for Intermediated Financing through Local Banks, including adherence to the Environmental Exclusion and Referral List, compliance with the applicable national environmental, health and safety legislation, and submission of annual environmental reports to EBRD.
Alexander Dementiev, Vice President
Tel: +7 095 725 40 96
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