Belinvestbank MSME A/B Loan (EBRD-50353)

Countries
  • Belarus
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 17, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Belinvestbank
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 17.44 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 15
Converted using 2018-09-14 exchange rate.
Project Cost (USD)
$ 58.15 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 50
Converted using 2018-09-14 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 12, 2019

Disclosed by Bank Sep 14, 2018


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Project Description

This project provides financing to Belinvestbank with the stated aim of diversifying the bank's funding base, and expanding lending to private micro, small and medium-sized enterprises (MSMEs) in Belarus. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

BELARUSIAN BANK FOR DEVELOPMENT AND RECONSTRUCTION (BELINVESTBANK JSC)
Belinvestbank is the sixth largest bank by total assets among 24 banks in Belarus with a market share of 5.5 per cent at end-June 2018. The bank is majority controlled by the state with a combined direct and indirect stakes of 99.1 per cent, with the remaining minor stakes held by various legal entities and individuals. It has a large regional network of about 125 sales offices covering all 6 regions of the country and providing full range of services to businesses and retail clients.

Contact Information

Denis Dikun
d.dikun@belinvestbank.by
+375 17 239 55 18
29, Masherova Avenue, 220002, Minsk, Republic of Belarus

ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.