24435 - NBD III

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Summary of Proposed Investment

Project Number

24435

Company Name

PUBLIC JOINT STOCK COMPANY NBD BANK

Date SPI Disclosed

Aug 29, 2005

Country

Russian Federation

Industry

Financial Markets

Projected Board Date

Oct 6, 2005

Status

Completed

Sector

Commercial Banking - General

Department

Global Industry, Financial Markets

Environmental Category

FI-1 - Significant

Previous Events

Approved : Dec 23, 2005
Signed : Dec 29, 2005
Invested : Jan 26, 2006

Project Description

The project is a follow-on 5-year senior, secured loan of up to $5 million to NBD Bank (NBD or the bank) for on-lending to local SMEs in Russia. The SME sector remains underserved in Russia, as most larger banks shy away from the smaller clients in pursuit of large corporates. NBD remains among the few regional banks with technical capacity and experience to effectively and efficiently serve this segment.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	5.0
Equity

Development Impact

The underdeveloped SME sector has been consistently identified as a major barrier to economic growth. The growth of SMEs in Russia is impeded as small businesses have few potential sources of credit and, wherever available, such loans have short tenors. In Russia, this lack of longer tenor loans for SMEs is even more acute in the regions.

The project will:

- enable NBD to provide longer term funding to its SME clients;
- support one of the leading regional institutions specializing in SMEs; and
- strengthen the bank’s operational capacity through IFC’s review and analysis of NBD’s policies and procedures during the appraisal and discussions with the bank on any need for further technical assistance.

This is a category FI Type 1 project according to IFC’s environmental and social review procedure. The Bank will need to demonstrate that it has maintained an environmental management system that is adequate to identify and address any environmental and social issues associated with its projects, and has adequate staff and resources in place for the same.
Location of environmental documents In locally affected community

Contacts

For Inquiries About the Project, Contact

Evgenij Maksakov, Head of Corporate Finance & Customer Department
Pl. Gorkogo 6, PO 202
603600 Nizhniy Novgorod
Russia

This Summary of Project Information (SPI) is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC's activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC's Disclosure of Information Policy that went into effect September 1998.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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