PRIORBANK (EQUITY)

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An equity investment of ECU 2.75 million in Priorbank. The project aims to: As the first EBRD-financed stand-alone transaction in the private banking sector in Belarus, the project will: Priorbank (PB), a commercial bank organised as a joint-stock company and incorporated under the laws of Belarus. Subscription to newly issued ordinary shares of PB representing approximately 25 per cent of PB's authorised and paid-in ordinary share capital. Not in excess of ECU 2.75 million. The project has been classified as FI, and therefore does not require an Environmental Analysis or an Environmental Audit. In accordance with the Bank's Environmental Policy and Procedures, PB shall require its borrowers to comply, at a minimum, with local and national environmental, health and safety standards and regulations. None.