26262 - Belarusian Bank for Small Business

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Summary of Proposed Investment

Project Number

26262

Company Name

Belorusski Bank Malogo Biznesa ZAO

Date SPI Disclosed

Aug 22, 2007

Country

Belarus

Industry

Financial Markets

Projected Board Date

Sep 24, 2007

Status

Completed

Sector

Microfinance and Small Business - Non Commercial Banking

Date Revised SPI Disclosed

Nov 14, 2007

Department

Regional Industry FIG LAC & EUR

Environmental Category

Previous Events

Approved : Nov 19, 2007
Signed : Dec 12, 2007
Invested : Mar 19, 2008

Project Description

The proposed project is to establish a dedicated greenfield microfinance bank in Belarus during 2007. The project will support the development of private micro and small enterprises (MSEs) in Belarus by providing financial services on a sustainable basis.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	6.72
Equity	1.79

Development Impact

The project is expected to have a high development impact by contributing to the development of the MSE sector in Belarus and further demonstrating the viability of the MSE lending operations to other local banks. Financing MSEs is critical to the development of free entrepreneurship practices as this contributes to economic and political stability through sustained employment opportunities. MFBB will bridge the gap between the demand and supply for MSE finance by providing permanent and reliable access to MSEs. It will also set new standards in good corporate governance, promote competition in the microfinance sector and foster innovation and better standards in customer service and conduct of business which will have a positive effect on other market participants and result in better services to the final beneficiaries.

IFC’s main additionality lies in its extensive greenfielding experience. Over the past two years IFC has actively pursued the role out of the ProCredit greenfielding model, by strongly supporting the creation of three new microfinance holding companies. The experience gained and lessons learnt will be of great value to the new initiative in Belarus. Furthermore, IFC’s good reputation as independent investors with the Belarusian Government can strongly facilitate the process of establishing the bank and obtaining the necessary requirements.

This project involves IFC support for the business of microfinance and has been classified as a Category FI project according to IFC’s Environmental and Social Review Procedure. Considering the nature of activities supported, the project will be required to:

- Develop a procedure relevant to its business process, prior to disbursement, that is satisfactory to IFC, and that ensures that all its investments are screened and processed to avoid supporting activities on the IFC Microfinance exclusion list;
- Identify qualified persons to manage and implement the procedure;
- Demonstrate commitment and resources to implementing the procedure;
- Submit a periodic report to IFC as per a format to be provided by IFC.

Contacts

For Inquiries About the Project, Contact

Once the bank is established, a contact will be provided accordingly. For the time being, please contact: Li Ren, Investment Officer Global Finance Markets Department International Finance Corporation 2121 Pennsylvania Avenue, NW Washington, D.C. 20433 USA Telephone: 202-473-0356 Fax: 202-974-4374

For Inquiries and Comments About IFC, Contact

General IFC Inquiries IFC Corporate Relations 2121 Pennsylvania Avenue, NW Washington DC 20433 Telephone: 202-473-3800 Fax: 202-974-4384E Mail: Webmaster

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. 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 Policy on Disclosure of Information that went into effect April 30, 2006.

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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