28633 - CI Russia Residential Energy Efficiency Finance / Agribusiness Finance

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Summary of Proposed Investment

Project Number

28633

Company Name

TSENTR-INVEST, OAO KB

Date SPI Disclosed

Sep 11, 2009

Country

Russian Federation

Industry

Financial Markets

Projected Board Date

Oct 12, 2009

Status

Completed

Sector

Commercial Banking - General

Department

Global Industry, Financial Markets

Environmental Category

Previous Events

Approved : Nov 9, 2009
Signed : Nov 19, 2009
Invested : May 6, 2010

Project Description

Center-Invest Bank (“CI” or the “Bank”) is a medium sized private regional Russian bank headquartered in Rostov and ranked 70th in terms of assets at end June 2009. The Bank is the second largest following state-owned Sberbank in Rostov region with expanded branch network (90 outlets) in the neighborhood regions of Volgograd, Krasnodar and Stavropol. The Bank focuses on retail, SMEs and corporate clients providing them with a wide range of products including overdrafts and short-term credit, working capital loans, investment loans and trade finance products.

The Project represents a finance package consisting of (i) senior loan to implement a pilot project for Residential energy efficiency finance in Rostov and neighborhood regions; (ii) senior loan to finance SME in agricultural sector of South Russia; and (iii) trade finance line to support trade activities of the Bank’s SME clients.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	30.99
Equity

Development Impact

This project is expected to contribute to:

- Rehabilitate and restore confidence in the sector by helping a viable regional bank (demonstration effect);
- Introduce and promote new IFC’s Russia Residential Energy Efficiency Program.
- Increase the Bank’s lending, with relatively longer maturities, to SMEs in agri-sector, thus supporting this underserved segment of the economy in the region of Southern Russia.

By providing the loans, IFC would be playing an active role in helping to:

- Build and strengthen the delivery capacity of term financing to SMEs;
- Promote the development of specialized and innovative Energy Efficiency products;
- Encourage lending to the underserved SME segment in the local market, specifically in agriculture and SME sector;
- Share the best practice standards and international expertise.

This project has been classified as a Category FI project according to IFC''s Environmental and Social Review Procedure.

As an existing IFC client, Center Invest has been in compliance with IFC''s S&E requirements, developed an SEMS, provided IFC with the required documentation and reported regularly. This appraisal will focus on Center Invest''s capacity to identify, monitor, and manage risks associated with lending to SMEs in agribusiness. The Bank will be required to provide an English translation of its current Environmental and Social Policy and Procedures. The client is also asked to complete a labor questionnaire to enable IFC to appraise Center Invest''s labor practices according to the IFC''s Performance Standards 2: Labor and Working Conditions. If required, IFC will suggest Supplemental Actions to address any gaps in the client''s existing SEMS.

Contacts

For Inquiries About the Project, Contact

Grigory O.Chorayan, Head of Treasury and FM departments, Center-Invest Bank.
Address: 62, Sokolova Str.,
Rostov-on-Don, 344010,
Russia.

Tel.+7 (863) 267 58 33,
fax +7 (863) 264 06 40,
e-mail: eurodept@centrinvest.ru, www.centrinvest.ru

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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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