Project description
and objectives:
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The Project will allow ZAO Prestige Internet (the company), a wholly owned subsidiary of Enforta B.V., to finance the ongoing expansion of its wireless broadband services in regional centres throughout the Russian Federation.
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Transition impact:
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The proposed project will
- enable the company to enhance its competitive position through the development and expansion of internet broadband, virtual private network and telephony services
- facilitate the use of pre-WIMAX and WIMAX technology to provide rapid connections to customers who have had limited or no access to the internet
- contribute to market expansion through introduction of new products based on wireless broadband solutions
- further fuel deployment of broadband internet, which has lagged in Russia due to the antiquated local telecoms infrastructure
- stimulate competition in Moscow and St Petersburg where the sector is dominated by fixed line incumbent operators thanks to good DSL infrastructure.
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The client:
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The Enforta Group, sponsored by the Sumitomo Corporation, private equity funds managed by Barings Vostok Capital Partners and private equity funds managed by Bessemer Venture Partners, is one of the largest wireless broadband Internet service provider in the Russian Federation.
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EBRD finance:
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Senior unsecured loan of USD10 million, or its RUB equivalent.
Parallel loan of up to USD10 million, or its RUB equivalent, to be arranged by a commercial bank.
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Total project cost:
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USD20 million, or its RUB equivalent.
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Environmental impact:
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Screened C/1. The Sponsor is the Bank's existing client. Corporate environmental due diligence was carried out for the preceding project in April 2006. The most recent annual environmental report (March 2008) confirmed its legal compliance. The upcoming project is required to comply with national and EU environmental, health and safety standards and requirements and to submit annual reports on environment, health and safety issues.
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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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Lee Sparkman, President
Mishina Street 56
Building 2, 6th floor.
127083 Moscow, Russian Federation
Website: www.enforta.com
Tel: +7 (495) 739-7559
Fax: +7 (495) 739-7559 x7777
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EBRD contact:
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Sebastien Bourillon, Operation Leader: bourills@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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