Financed ProjectsSovcombank (former Rosevrobank TF)

Identification Code:

OP/17/0039

Total Operation Cost:

20.000.000

Maturity:

12 months

Operation Status:

Description and Purpose of the Operation:

Revolving committed Trade Finance Facility to Rosevrobank, Russia.

Countries of Operation:

Russia (100,00 %)

Financial Product:

Trade Finance

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

Rosevrobank

Co-Financiers/Participants:

n/a

Guarantors/Sponsors:

n/a

Developmental and Regional Cooperation Impact:

The operation involves a revolving Trade Finance Facility that is expected to have modest but favourable economic benefits for the Russian economy. The most relevant of these are the increased economic activity and increased exports, as well as additional tax revenue gains. In addition, the financing will contribute to increases in employment, export capacity and competitiveness and multiplier effects for other parts of the economy.

Environmental Classification and Impact (summary):

Rosevrobank has developed and implemented an E&S policy and procedure according to EBRD's requirements, which are consistent with BSTDB E&S Policy requirements for FIs. The procedure is well integrated in the overall portfolio management and consists of E&S screening, analysis of medium and high risk sub-loans, monitoring, as well as screening against its own Exclusion List, which is consistent with the Bank's document in this respect.

Operation Leader:

Financial Institutions II

E-mail:

fi2@bstdb.org