Project description
and objectives:
|
EBRD proposes to lend USD 30 million to Prosto Finance (the “Company”), a
specialised consumer finance company operating in Ukraine.
The transaction aims to support the expansion of a specialised consumer
finance institution in Ukraine thought providing the Company with a stable,
longer term funding source. The project will also promote competition in the
consumer finance segment in Ukraine and support the development of credit
bureaux.
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Transition impact:
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-
The proposed transaction will enhance competition and innovation in the
nascent consumer finance market in Ukraine.
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The proposed project will promote financial sector intermediation in an
industry characterized by a low level of development and with very high growth
potential.
-
The project is expected to support through policy dialogue changes in the
legal framework for the consumer finance industry, such as the establishment
of credit bureaux, as well as at a later stage support the development of
capital markets through potential securitisation.
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The client:
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Prosto Finance, a consumer finance vehicle of Société Générale group in
Ukraine, is a specialised financial institution operating a nation-wide
consumer finance platform.
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EBRD finance:
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Term loan of USD 30 million.
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Total project cost:
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USD 30 million.
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Environmental impact:
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Prosto Finance will be required to adopt and implement the EBRD's
Environmental Procedures for Financial Institutions which includes adherence
to EBRD’s Environmental Exclusion and Referral Lists, compliance with the
applicable national environmental, health and safety and labour requirements,
and regular submit an Environmental Report to EBRD.
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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 Jerome Haddad, Chief Operating Officer,
9 Moskoyv’ski Avenue,
5th
Building,
Kyiv 04073,
Ukraine
Tel. +38 044 496 45 45
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EBRD contact:
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Svetlana Tsyba, Operation Leader: tsybas@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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