PROJECT

Projects

Summary of Investment Information

Project Number

34481

Company Name

COMMERCIAL BANK SDM-BANK Open Joint-Stock Company

Date SPI Disclosed

May 1, 2014

Country

Russian Federation

Region

Europe

Projected Board Date

Jun 2, 2014

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Nov 30, 2016

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Sector

Commercial Banking - General

Project Description

IFC proposes to provide up to US$30 million equivalent in RUB (up to 3 years) senior loan to SDM-Bank Joint Stock Company (the Bank or SDM). The proceeds from IFC’s investment would be directed towards on-lending to SME clients, which would increase their access to longer term local currency funding.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation