34287 - Belarusky Narodny Bank II

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Summary of Investment Information

Project Number

34287

Company Name

BELARUSKI NARODNY BANK

Date SPI Disclosed

Nov 18, 2013

Country

Belarus

Region

Europe

Projected Board Date

Dec 19, 2013

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : Dec 19, 2013
Signed : Dec 31, 2013
Invested : Apr 28, 2014

Sector

Commercial Banking - SME Finance

Project Description

The proposed project consists of an IFC loan to Belarusky Narodny Bank (“BNB-Bank”) of up to US$7 million with tenor of up to 5 years (1 year grace period) aimed at improving access to finance for Belarusian SMEs. The objective is to support private sector development in Belarus, where state sector dominance is high and long term financing for SMEs is scarce.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	7.0
Equity

Development Impact

IFC will play a strong developmental role in the project by:

(i) Providing much-needed longer term funding, which is otherwise scarce for the SME sector in Belarus;
(ii) Supporting an IFC existing client, a well-run privately owned bank, in the aftermath of financial crisis of 2011 and in the current fragile economic environment;
(iii) Strengthening long-standing partnership with Bank of Georgia Group via support of its cross-border growth.

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
CORE - E and S Management Systems (Y/N)	Compliance/Enhancement		Not Available	Not Available	Not Available

E&S Category Rationale / Risks and Mitigation

The proposed project is with an existing IFC Client to provide a new loan in the amount of up to US$7 million mainly aimed at improving access to finance for Belarusian SMEs (funding can be used for any type of lending). The proposed portfolio includes limited exposure to business activities with potential significant adverse environmental and/or social impacts. The project has therefore been categorized as FI-2 in accordance with IFC’s Sustainability Framework. The bank will be required to comply with the IFC Exclusion List, national E&S laws and the IFC’s Performance Standards.

The key risks is the ability of the bank to identify and manage the environmental and social risks associated with its lending activities, in particular lending to projects associated with construction. Additional E&S risks and impacts of the bank derive from the capacity and systems in place to manage these risks. BNB-Bank has developed and implemented an Environmental and Social Management System (“ESMS”) outlining the procedures, responsibilities and tools for undertaking E&S risk management of its lending activities. The bank has assigned responsibility for the ESMS implementation. The bank''s HR Policy is partially compliant with PS2 requirements on Labor and Working conditions.

Contacts

For Inquiries About the Project, Contact

Constantine Tsereteli
Chief Executive Officer 87A Nezavisimosti Ave.Minsk 220012 BelarusTelephone: +375 17 388 8500
Fax: +375 17 2807447

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Complaints can be submitted to IFC online at www.ifc.org/escomplaints or by email to EScomplaints@ifc.org.

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Affected communities have unrestricted access to the Compliance Advisor Ombudsman (CAO), the independent accountability mechanism for IFC and MIGA. CAO facilitates the resolution of complaints related to IFC and MIGA projects and sub-projects, undertakes reviews of IFC’s and MIGA’s environmental and social compliance, fosters public accountability for their commitments, and enhances the environmental and social performance of IFC and MIGA.

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CAO receives and addresses complaints in accordance with the CAO Policy, which can be accessed at: https://www.cao-ombudsman.org/policies-guidelines.

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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Task Description	Anticipated Completion Date
Upgrade an ESMS	On or prior to Disbursement
Prepare ESMS Implementation Plan (including Staff Training Plan)	On or prior to Disbursement
Implement Staff Training	Within 3 months after disbursement
Upgrade HR procedures	On or prior to Disbursement

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