Project description
and objectives:
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The proposed project envisages providing a loan of RUB 280 million (USD 10
million equivalent) to Spurt Bank, a private bank in the Republic of Tatarstan
(RoT), Russia for on-lending to SMEs operating in the RoT. The Project is
aimed at supporting the SME sector in Tatarstan, which is currently
underserved by local banks.
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Transition impact:
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The transition impact potential of the proposed project arises mainly from its
support of a transformation of a regional bank operating in the RoT into a
bank operating according to best practice standards of corporate governance
and business conduct. The proposed project will support the bank’s
diversification strategy and promote competition within the local banking
market.
The proposed project will strengthen the development of regional SMEs by
promoting financial intermediation, thereby increasing the level of available
medium-term resources for local SMEs.
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The client:
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Spurt Bank, the 4th largest bank by capital in the RoT established in 1992 by
local private and state organisations. The bank is now pursuing a strategy of
development as a universal bank, it has been actively developing SME lending
for the last two years.
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EBRD finance:
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A four-year senior loan of RUB 280 million (equivalent of USD 10 million).
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Total project cost:
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RUB 280 million (equivalent of USD 10 million).
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Environmental impact:
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Spurt Bank will be required to comply with EBRD’s Environmental Procedures for
SME financing which require adherence to the Bank’s Environmental Exclusion
and Referral List, compliance with the applicable national environmental,
health and safety requirements and submission of an Annual Environmental
Report to the Bank.
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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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Mr. Alexei Zemlyakov, Vice President
E-mail: azemlyakov@spurtbank.ru
Telephone: +7 8432 –915104
Fax: +7 8432 – 915017
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EBRD contact:
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Mikhail Grechikho, Operation Leader: grechikm@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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