Project description
and objectives:
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A proposed loan to BTA Ipoteka, a 100% owned subsidiary of Bank TuranAlem (BTA).
EBRD's loan would help BTAI better manage its balance sheet (matching tenor of funding with assets) and reduce funding costs, which would increase the amount of retail mortgage lending it can make available.
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Transition impact:
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EBRD's proposed loan would be the first case of a mortgage lender utilising its mortgage receivables to help securitise international obligations. The loan would help advance development mortgage securitisation in Kazakhstan more generally.
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The client:
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BTA Ipoteka (BTAI), established in late 2000, is a subsidiary of Bank TuranAlem specialising in mortgage finance. As of mid-year 2002, BTAI is one of the most active retail mortgage lenders in Kazakhstan.
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EBRD finance:
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Up to 7-year, USD 5 million loan (EUR 5.05 million), provided in two tranches of USD 2.5 million each.
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Total project cost:
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USD 5 million loan (EUR 5.05 million).
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Environmental impact:
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The environmental impact from the project will be low as the borrower is committed to comply with the financing restrictions stated on EBRD’s Environmental Exclusion List for Financial Institutions as well as with EBRD’s Environmental procedures for Intermediate Financing through Local Banks.
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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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Leyla Abdimomunova, Operation Leader: abdimoml@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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