IFC might lend up to $55 mln to RosEvroBank
MOSCOW. Oct 22 (Interfax) - International Finance Corporation (IFC), which is part of the World Bank Group, might provide RosEvroBank with a credit worth up to $55 million, according to materials published on IFC's website.
IFC is providing the financing in the framework of RosEvroBank's project to raise up to $105 million. This project envisages several credits: an A-credit worth up to $25 million lasting up to three years, a parallel B-Credit of up to $50 million for up to one year, and a subordinated C-credit worth up to $30 million.
It is assumed that IFC will act as the creditor for the A and C credits. RosEvroBank plans to raise the parallel B-credit from other creditors - IFC is working through the possibility of boosting the B-credit to $75 million. In such a case, RosEvroBank will raise $130 million as a whole.
RosEvroBank is taking out credits to finance small and medium business, as well as to develop trade financing, IFC reported
The IFC's board will consider the corporation's participation in the project on November 19.
RosEvroBank was Russia's 51st largest bank by assets at the end of Q3 2012, according to the Interfax-100 ranking.
