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RosevroBank Mortgage Financing

Russia | Financial Institutions

Identification Code:: OP/06/0593
Total Operation Cost:: — USD
Maturity:: 68 months
Operation Status:: BSTDB Approved Amount – Approval Date

20.000.000 USD – 16 Jun 2007
: BSTDB Signed Amount – Signed Date

20.000.000 USD – 25 Jan 2008
: Status:
Completed
Description and Purpose of the Operation:: Provision of a Bank to Bank Loan to Rosevrobank, Russia for mortgage financing purposes. The proceeds of the Loan shall be used by Rosevrobank exclusively for the purpose of providing mortgage sub-loans to local borrowers eligible in accordance with criteria agreed with BSTDB.
Countries of Operation:: Russia (100,00%)
Financial Product:: Loans
Sector:: Financial Institutions
Domain:: Private
Borrower/Client:: Rosevrobank is a medium sized bank focused on large corporates and SMEs offering a comprehensive range of products to its retail clients.
Co-Financers/Participants:: —
Guarantors/Sponsors:: —
Developmental and Regional Cooperation Impact:: The Mortgage credit line to Rosevrobank will support the Borrower in developing residential mortgage lending program and improving access of the Russian population to affordable funding to improve their living conditions.
Environmental Classification and Impact:: Residential mortgage financing is associated with a number of specific environmental risks related to safety of property to be financed such as site contamination, use of hazardous materials in construction, risk of flooding, land sliding, seismic activity and compliance with the applicable national construction and environmental standards and regulations. Rosevrobank shall be required to take into consideration these issues when financing residential property as part of the standard mortgage loan assessment procedure as well as observe the BSTDB Environmental Exclusion List and Negative List of Products and comply with the environmental regulations and standards of the Russian Federation in its lending activities
Operation Leader:: Financial Institutions II
E-mail:: fi2@bstdb.org