Center-Invest Bank RSECF EE Loan

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Translated version of this PSD: Russian The EBRD is considering providing an Energy Efficiency loan of RUB 750 million to Center-Invest Bank (CIB), a leading private regional bank in the South of Russia based in Rostov-on-Don. The loan will be provided under the RSECF – Russian Sustainable Energy Efficiency and Carbon Finance Facility and will finance Industrial and Residential Energy Efficiency. The Project is aimed at enhancing availability of longer-term local currency for financing energy saving projects. The proposed project will also support the borrower by strengthening its balance sheet and contributing to funding diversification. The project will be supported by Grants for TC support provided by the EBRD Shareholder Special fund, the German Federal Ministry of the Environment, Nature conservation and Nuclear Safety and the Federal Ministry of Finance of Austria. The Project will generate transition impact by expansion of energy efficiency lending in both industrial and residential segments and contribution to the efficiency of the Russian economy. It will have positive demonstration effects, particularly with respect to utilising financial intermediaries for investments resulting in rational energy utilisation. CIB is a universal bank providing a wide range of products to corporate and retail clients in Rostov-on-Don and four adjacent regions through its substantial network of 140 outlets, along with 237 ATMs (as of 1 Oct 2012) and a subsidiary leasing company. CIB was ranked 74-th by assets among Russian banks at 1 Oct 2012 and is the largest local bank (and the second after Sberbank) in the Rostov region with more than 10% market share in loans and deposits respectively. Energy Efficiency Loan (EE Loan) of RUB 750 mln. in two equal tranches with maturity of 3 years. RUB 750 million. Categorised FI. CIB will be required to comply with PRs 2 & 9. Sub-borrowers financed through the credit line under the RSCEF will be required to comply with national requirements for environment, health and safety and labour standards. CIB will submit annual environmental reports to the EBRD. The project will be supported by two separate consultants already engaged under RSECF framework to support the implementation of residential and industrial projects. Technical assistance to companies benefiting from financing under RSECF industrial component will help with the structuring of sub-projects tailored to the companies’ needs and ensures that the sub-projects meet minimum savings requirements and guarantees that the projects to be financed are technically and financially viable as well as improving the cost efficiency of the sub-borrowers. The TC to support RSECF-residential will help PFIs to identify and process a large number of small energy efficiency projects proposed by households, homeowner associations and other entities. Mr. Alexander Kovalenko Head of Treasury and Financial markets department, Center-Invest Bank e-mail: a.kovalenko@centrinvest.ru Mrs. Lidia Simonova Senior Economist, Treasury and Financial markets department, Center-Invest Bank e-mail: l.simonova@centrinvest.ru Telephone: +7 863 267 58 33 ext. 2586 Fax: +7 863 264 06 40