PROJECT

Projects

Summary of Investment Information

Project Number

44094

Company Name

PRIORBANK OAO

Date SPI Disclosed

May 29, 2020

Country

Belarus

Region

Europe

Projected Board Date

Jun 8, 2020

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Aug 26, 2022

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Jun 11, 2020
Signed : May 7, 2021
Invested : May 28, 2021

Sector

Commercial Banking - Trade and Supply Chain

Project Description

The project is a senior loan of up to US$25 million equivalent in Belarusian Rubble to Priorbank Joint-Stock Company (“Priorbank”, or “the Bank”), an existing IFC client in Belarus. The loan will have a tenor of 12 months with the possibility of extension by another 12-month period. The funds will be used to support SMEs in Belarus which have been negatively impacted by the COVID 19 global pandemic.                                       

Associated Advisory Engagement

                         N/A                          

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation