Project description
and objectives:
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Provision of a medium-term credit line of US$ 30 million to the Industry and Construction Bank of St Petersburg. The loan will be lent to private sector enterprises for the financing of investment projects. The project's principal objectives are to address the shortage of medium-term funding available in Russia for the financing of industrial investment activity and to support the development of a key bank.
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Transition impact:
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The project will promote the development of a market-oriented financial sector and of private sector investment.
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The client:
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The Industry and Construction Bank (ICB) is the largest bank in St Petersburg and among the 20 largest in Russia. The bank has 42 branches, a large customer base and a focus on the corporate sector in the north west of Russia.
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EBRD finance:
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A loan of US$ 30 million (ECU 23.8 million equivalent).
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Total project cost:
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US$ 30 million.
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Environmental impact:
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C/0. The project does not require an environmental analysis or an environmental audit. Sub-projects will be financed in accordance with the EBRD's environmental procedures for financial intermediaries. On an annual basis, the Industry and Construction Bank will report to the EBRD on environmental issues associated with the credit line.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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EBRD contact:
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George Orlov, Operation Leader: orlovg@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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