The proposed project is to provide up to $50 million IFC A loan and, depending on market conditions, up to $50 million IFC B loan, backed by a CELT-type guarantee from Societe Generale, to Rusfinance Bank (“Rusfinance” or “Bank”). The loan is intended to help Rusfinance launch its “Green Car” lending product for environmentally friendly vehicles, including hybrid, electric, gas and low emission petrol engines with CO2 emission lower than 150g/km.

LLC Rusfinance Bank is the consumer/auto lending subsidiary of Société Générale in Russia. The Bank was acquired in 2005 and as of end-2011 ranked #41 in Russia with over $3.4 billion in assets*. Rusfinance is one of the leading players in the Russian retail banking market: was ranked #1 in the car loan market in 1H2011** and is among the top-five banks in the point-of-sales lending market***. The Bank operates in 67 regions in Russia reaching approximately 93 % of the Russian population, with over 17,559 active points of sales**** reaching more than two million customers.

*Source: the RBC rating of Top500 banks on net assets
** Source: the RBC rating of banks on CAR loan market
*** Source: Frank Research Group, The CBR, Rusfinance
**** where at least one loan per quarter is granted