The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has provided a five-year loan of RUB 300 million (USD 10 million) to Russia-based NBD Bank to support small businesses in small company towns in central Russia. The funds are expected to offer “a new line of financial services and products for small companies to help them invest in production assets and expand employment” [1].
As of 2011, IFC has total assets of USD 68.5 billion and total investment mobilization of USD 12.2 billion to 518 projects. NBD Bank reports total assets of RUB 13.6 billion (USD 462 million) as of September 2011 [2].
By Brendan Millan, Research Associate
About International Finance Corporation (IFC): A member of the World Bank Group, IFC offers loans, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. As of 2011, IFC has 182 member countries, total assets of USD 68.5 billion and total investment mobilization of USD 12.2 billion to 518 projects.
About NBD Bank: Established in 1992, NBD Bank is a commercial bank based in Nizhny Novgorod, Russia, that loans to micro-, small and medium-sized enterprises (MSMEs). NBD Bank has 23 branches in the regions of Nizhni Novgorod, Kirov, Penzaand Ivanov Oblasts, Chuvash Republic and the Republic of Mariy El. NBD Bank reports total assets of RUB 13.6 billion (USD 462 million) as of September 2011.
Sources and Resources:
[1] International Finance Corporation: “IFC Helps NBD Bank Support Small Businesses in Company Towns in Central Russia” by Nezhdana Bukova. http://www.ifc.org/IFCExt/pressroom/IFCPressRoom.nsf/0/179984EE5A03A1D0852579D6002F824F
[2] NBD Bank: “Reporting.”, http://www.nbdbank.ru/?id=6716
MicroCapital.org Article, September 13, 2011, “International Finance Corporation (IFC) to Loan $10m to Metcombank of Russia for On-Lending to Small and Medium-sized Enterprises (SMEs)”, https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-to-loan-10m-to-metcombank-of-russia-for-on-lending-to-small-and-medium-sized-enterprises-smes/
MicroCapital.org Article, July 14, 2011, “responsAbility Loans $27m to Microfinance Institution Prizma of Bosnia and Herzegovina; Russia’s Forus Bank, NBD Bank, FINCA Russia, https://www.microcapital.org/microcapital-brief-responsability-loans-27m-to-microfinance-institution-prizma-of-bosnia-and-herzegovina-russia%E2%80%99s-forus-bank-nbd-bank-finca-russia/
MicroCapital.org story, April 20, 2010: “European Bank for Reconstruction and Development (EBRD) to Provide $18.5m Loan to NBD Bank, a Commercial Bank in Russia that Specializes in Lending to Micro, Small, and Medium-Sized Enterprises (MSMEs)”, https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-to-provide-185m-loan-to-nbd-bank-a-commercial-bank-in-russia-that-specializes-in-lending-to-micro-small-and-medium-size/
MicroCapital Universe Profile: International Finance Corporation (IFC), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Finance+Corporation+%28IFC%29
MicroCapital Universe Profile: NBD Bank, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=NBD+Bank
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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