Financed ProjectsCredit Bank of Moscow 3 - SME Financing.

Identification Code:

OP/11/0839

Total Operation Cost:

0

Maturity:

72 months

Operation Status:

Description and Purpose of the Operation:

Provision of Bank to Bank Loan to Credit Bank of Moscow, Russia for SME financing purposes. The proceeds of the Facility will be used by the Borrower exclusively for the purpose of providing loans to SMEs eligible in accordance with the eligibility criteria agreed with BSTDB. The Loan aims to contribute towards expanding of the SME lending program of one of the actively growing middle-sized private Russian banks thus increasing the accessibility to finance for small and medium-sized private businesses.

Countries of Operation:

Russia (100,00 %)

Financial Product:

SME's

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

Credit Bank of Moscow

Co-Financiers/Participants:

Guarantors/Sponsors:

Developmental and Regional Cooperation Impact:

Due to the CBOM well-established market presence and strong commitment to develop SME lending, the Loan will represent an excellent mechanism for BSTDB to support development and expansion of small and medium sized businesses and entrepreneurs in Russia, which can not be otherwise accessed by BSTDB directly. The Loan would assist the Russian government's strategy to support development of SMEs that form the core of the country economy and create additional employment opportunities, which is one of the priorities for BSTDB.

Environmental Classification and Impact (summary):

Screened as FI category. The Borrower provided evidence that it has adopted an Environmental Policy and comprehensive Environmental Procedures, which were found satisfactory to BSTDB and which, have been integrated fully into its credit/investment appraisal and monitoring process. The Borrower has also adopted an Environmental Exclusion List similar to BSTDB’s Environmental Exclusion List and Negative List of Products. The Borrower is required to make sure its sub-projects comply with environmental regulations and standards of the Russian Federation, as well as submit to the Bank annual EHS performance reports.

Operation Leader:

Financial Institutions II

E-mail:

fi2@bstdb.org