PROJECT

Projects

Summary of Investment Information

Project Number

33860

Company Name

TSENTR-INVEST, OAO KB

Date SPI Disclosed

Nov 25, 2013

Country

Russian Federation

Region

Europe

Projected Board Date

Dec 25, 2013

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Nov 30, 2016

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Feb 12, 2014
Signed : Mar 19, 2014
Invested : Mar 31, 2014

Sector

Commercial Banking - Trade and Supply Chain

Project Description

The project involves a potential senior loan of up to RUB600 million to Joint-Stock Company Commercial Bank “Center-Invest”. The bank’s core activity is to serve small and medium sized enterprises (“SMEs”) in the frontier regions of southern Russia and is aligned with IFC’s development strategy.

The IFC loan would be provided under the Working Capital and Systemic Solutions product and have a maturity of up to 12 months, renewable up to two times at IFC’s option for an additional 12 months, for a maximum aggregate period of up to 3 years. The loan would be used by the bank for on-lending to SMEs, particularly those operating in the agriculture sector, to meet their short-term and working capital finance needs.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation