Priorbank & Raiffesen Leasing Belarus Green Housing

completed

               The project entails a total financing package of up to US$75 million equivalent in Belarusian Rubble (“BYN”) for Priorbank Joint-Stock Company (“Priorbank”, or “the Bank”), an existing IFC client in Belarus, and its subsidiary JLLC Raiffeisen Leasing (“RLBY” of “the Company”). The package consists of the following components: 1)     Up to US$50 million equivalent in a 7-year senior housing finance loan to Priorbank (“Priorbank Housing Loan”). The loan would be used for on-lending to mortgage borrowers including green mortgages, and/or for energy efficiency home renovation loans in Belarus. At least 50% of the Housing Loan proceeds will be used for eligible climate finance, which includes green mortgages and/or energy efficiency home renovation loans.2)     Up to US$25 million equivalent in a 7-year senior housing finance loan for RLBY (“RLBY Housing Loan”). The Loan proceeds will be used for on-lending to mortgage borrowers through financial leasing of residential property in the country, with at least 50% of the proceeds to be on-lent for eligible green mortgages.