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Inecobank SME

Armenia | Financial Institutions

Identification Code:: OP/10/0777
Total Operation Cost:: — USD
Maturity:: 36 months
Operation Status:: BSTDB Approved Amount – Approval Date

3.000.000 USD – 16 Apr 2010
: BSTDB Signed Amount – Signed Date

3.000.000 USD – 25 Jun 2010
: Status:
Completed
Description and Purpose of the Operation:: The proceeds of the SME financing shall be used by the Borrower exclusively for the purpose of financing Sub-loans eligible in accordance with the eligibility criteria set for the in Schedule 1 of the Term Sheet (Sub-loan Criteria and Procedures).
Countries of Operation:: Armenia (100,00%)
Financial Product:: SME's
Sector:: Financial Institutions
Domain:: Private
Borrower/Client:: Inecobank, Armenia
Co-Financers/Participants:: —
Guarantors/Sponsors:: —
Developmental and Regional Cooperation Impact:: The Project is expected to have favorable economic benefits for the Armenian economy, the most relevant being the tax revenue gains from economic activity, increase in employment, increase in export capacity and competitiveness, and multiplier effects for other parts of the economy.
Environmental Classification and Impact:: For the purpose of this transaction the Borrower shall be required to: - Undertake environmental assessment of the sub-loans with medium and high environmental risk, as well as ensure proper monitoring of these operations; - Ensure compliance of the sub-loans with applicable national EH&S requirements; - Continue to adhere to the Bank’s Negative List of Goods; - Submit annual EH&S performance reports.
Operation Leader:: Financial Institutions I
E-mail:: fi1@bstdb.org