Financed ProjectsAbsolut Bank 2 - Trade Finance

Identification Code:

OP/14/0022

Total Operation Cost:

30.000.000

Maturity:

12 months

Operation Status:

Description and Purpose of the Operation:

USD 30 million Short Term Trade Finance Facility, to contribute towards expanding the Trade Finance activity of a rapidly developing Russian bank.

Countries of Operation:

Russia (100,00 %)

Financial Product:

Trade Finance

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

Absolut Bank OJSC

Co-Financiers/Participants:

n/a

Guarantors/Sponsors:

n/a

Developmental and Regional Cooperation Impact:

The operation is expected to have favourable economic benefits for the Russian economy, the most relevant being additional tax revenue gains from increased economic activity under the amount provided. The regional cooperation element is similarly expected to be modest but favourable. Other BSTDB countries are important trade partners for Russia so a portion of exports is anticipated to be directed there, while the import financing provided under the facility will be restricted to importation of goods from other BSTDB member countries.

Environmental Classification and Impact (summary):

In order to reduce/avoid any Environmental, Health & Safety (EH&S) impacts that potentially may arise from trade finance activities Absolut Bank shall follow the Environmental and Social Exclusion List of BSTDB and local EH&S legislation, as well as ensure that the Beneficiaries will fully comply with these requirements.

Operation Leader:

Financial Institutions II

E-mail:

fi2@bstdb.org