Summary of Proposed Investment
Project Number
22453
Company Name
Russia Womens' Microfinance Network
Date SPI Disclosed
Jan 14, 2004
Country
Russian Federation
Industry
Financial Markets
Projected Board Date
Mar 31, 2004
Status
Completed
Sector
Commercial Banking - Microfinance and Small Business
Department
Regional Industry FIG LAC & EUR
Environmental Category
FI-1 - Significant
Previous Events
Approved : Mar 7, 2005
Signed : Jun 20, 2005
Invested : Jun 30, 2005
Project Description
The project involves the provision of a guarantee of up to 50% of a $1.5 million equivalent Ruble denominated commercial bank loan to the Russian Women Microfinance Network (RWMN, or the Network) one of the Russia’s top microfinance institutions (NGO MFIs). RWMN has a strong growing network in central European Russia. The commercial bank loan would be used for expanding the network and for on-lending to RWMN regional partner funds (the Partners), during a period when RWMN is attempting to transform itself from being a non-profit fund into a regulated financial institution.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Ms. Diana Medman, RWMN Chairperson,
Phone: 7 095 202 98 12
Fax: 7 095 203 05 88
6/2 office 418, Stolovy per.,
Moscow 121836
Russia