devinitorg/iati-policy-markers huggingface dataset:
RPSB Equity IFCs Financial Markets strategy in Russia places a high priority on improving access to finance in non-urban areas and on improving the stability of the banking system by assisting in the consolidation of a highly fragmented sector and by reducing the concentration of state-owned banks.  As a result, IFC looks to support second- and third-tier banks in regions that are under-served by the banking system.  The proposed project consists of an equity investment of up to $22 million in RostPromStroyBank (RPSB or the Bank), a medium-size bank located in Rostov-on-Don (a frontier region), to purchase 20% of the voting shares of RPSB.   The Bank was established in 1922 under the name of Industrial Bank.  In 1959, it was renamed as Stroybank USSR (Construction Bank of USSR), and in January 1992 registered as Rostpromstroybank.  It is a universal bank specializing in corporate loans, consumer loans, mortgage lending and credit cards.  Its client base is very diverse, and ranges from the largest companies of Rostov-on-Don and the Rostov region to small businesses and individual entrepreneurs.  The branch network is yet not too large, and includes Head Office and 2 outlets in Rostov-on-Don, one outlet in Belaya Kalitva, and one outlet in Salsk.  The Bank has 22 ATMs. The project is expected to have a strong development impact.  As the Banks shareholder, IFC will work together with the Bank at expansion of the banking penetration in the currently severely under-banked Southern Federal District of Russia, and also at further strengthening and consolidation of the banking system in the region.    The project will also strengthen the Banks capacity in social and environmental management.  The Bank will need to comply with IFCs environmental and social management standards and establish the Social and Environmental Management System (SEMS).  This will improve the Banks standards in this area and create a demonstration effect for other banks active in the Southern Federal District.   Finally, the project will facilitate capacity and institution building of the Bank based on best practices of corporate governance and risk management.  IFC will appoint a Director on the Banks Board of Directors, and participate in structuring the Banks business strategy and growth.
Swedwood Tichvin The project consists of the construction and operation of a greenfield, vertically integrated furniture component operation with an annual capacity for wood harvesting of up to 250,000 m3, sawmilling of up to 150,000 m3, and furniture component production of up to 24,000 m3. The plant''s production, to be made of both birch and pine, and eventually also spruce, will be designed specifically to fit into IKEA''s global supply structure, and to complement IKEA''s existing network of Russian suppliers.  In addition, IFC and Swedwood are considering the implementation of a technical assistance (TA) program to improve the sustainability of the company''s operations, including training of local forest operators that would eventually supply the plant.  The project represents the initial step in Swedwood''s long-term strategy to create its first integrated production base for furniture manufacturing in Russia.     The project is expected to have a significant development impact by increasing the economic value of the forest resources of the Leningrad region, which are currently under-utilized, and by conducting sustainable forestry practices in the project area.  It will also provide direct employment to approximately 425 people in a remote area, to be considerably expanded in the long term.  The sponsor will allocate substantial resources to training, similar to its other production facilities in Eastern Europe.  Indirectly, the local business community will benefit from the project as a nucleus for regional development.  Further, the implementation of the proposed TA program is expected to result in long-term contracts for local companies to supply Swedwood, which will create stable revenues and employment opportunities.    IFC''s role in this project is to provide comfort to the sponsor in its first investment in the Russian forestry sector.  IFC will also have a strong role in mobilizing financial and technical resources to build up the capabilities of local forest operators and contribute to improving the business climate in the forestry sector.
Mariy El II The proposed Project envisages a 3-year program of financial support to the Republic of Mariy El (the Republic) in Russian Federation (RF) of up to RUR1.515 billion (approximately US$50 million) over a period of 2010-2012.  This multi-year engagement is aimed at helping the Republic to make meaningful progress on the road sector reforms agreed under the first IFC loan (RUR450 million / US$15 million that was fully disbursed in June 2009).  The proposed Project consists of RUR1.125 billion (US$37 million) investment in the Republics core road network and RUR390 million (US$13 million) refinancing of the Republics short term debt taken by the Republic to finance its 2009-2010 capital investment program.  The first phase of the 3-year program in the amount of RUR600 million (US$19.8 million) will be implemented in 2010.  RUR300 million (US$10 million) will be used for resurfacing, strengthening and reconstruction of about 30 km of the Republics core road network and RUR300 million (US$10 million) for refinancing a portion of the Republics debt taken during 2009 to finance its capital investment program.  As envisaged under the current loan, the Republic plans to progressively increase its annual allocations for road network conservation from RUR250 million (US$8.3 million) in 2009 to RUR450 million (US$15 million) by 2012. The proposed Project would conserve valuable road network assets and minimize the increase in vehicle operating costs (VOC), while the planned privatization of Republic owned road enterprises and greater competition in procurement is expected to increase the value for money from road investments in the Republic in the medium term.  The proposed investment will help prevent further deterioration of the 800 km core network, producing savings estimated at about RUR2.5 billion (US$83 million) in NPV terms over the base case (avg. road conservation expenditure of about RUR100 million p.a.). The Project is also expected to improve the term structure of the Republic''s debt to better match the expected benefit stream from its investments.
ATB A+B SME Loan The proposed project consists of an A-Loan denominated in Russian Rubles at IFCs own account of up to US$30 million (approximately equivalent to RUB882.2 million) for up to five years, and a B/parallel-Loan of up to US$30 million. The loans are intended to support the Banks onlending to small and medium enterprises in the Far East and Siberia Federal Districts of Russia. ATB is the largest regional bank in the Russian Far East and Siberia, headquartered in Blagoveshchensk. The Bank is focused on retail lending, but has a significant corporate loan and SME loan portfolios. IFC has been engaged with the Bank since 2008 and is a shareholder with a 7% stake.  The Bank operates through a branch chain including 221 offices, located in 18 regions of Russia, 60% of which are frontier regions. The Project is expected to have a significant development impact as it will enhance the Bank''s ability to lend more to SMEs and households in frontier regions of the Eastern Russia.  Such financing will be crucial for the sustainable development of the private sector and diversification of the regional economies where the Bank operates (including 9 frontier regions, defined as having per capita income 80% or less of the national average). Additional developmental impact lies in the introduction of the Bank and its unique business model to the international wholesale funding market, by possibly marketing its debut syndication.
Energomera Project Established in 1996, Monocrystal is one of the worlds largest producers of synthetic single crystal sapphire, aluminum and silver composite pastes for solar power generation, as well as other electronic materials for such industries as production of semiconductors, optics and photovoltaics.  Monocrystal exports over 90 percent of its output to more than twenty countries worldwide. After its purchase of PKF Atlas (Atlas) in 2008, Monocrystal ranked among the four largest synthetic sapphire producers by revenues globally.  Monocrystal has approached IFC to finance a portion of its medium-term modernization program and working capital needs. The proposed investment will have the following positive development impacts:    Employment:  The investment will support one of the largest employers in Stavropol, a frontier region in Russia with per capita GDP equal to 42% of the national average. Monocrystal is the only significant high-tech employer in the region, where employment opportunities are generally limited to seasonal agricultural jobs and a few industrial companies.      Contribution to energy efficiency and renewable energy:  Monocrystals main product, synthetic single crystal sapphire, is used in LED lighting, a highly energy efficient source of illumination. Aluminum composite paste, Monocrystals other main product, is used in the production of solar cells. This investment will support the local development and production of materials that are key components of higher energy efficiency and renewable energy products.    Export earnings:  The investment will support one of the largest exporters in the Stavropol region.
KuAz Project Kuibyshevazot Joint Stock Company (or the company), is the leading producer of caprolactam in Russia and the CIS (caprolactum is the raw material for producing polyamide resins, synthetic fibers and engineering plastics used in textiles, automotive, and many other downstream industries).  In addition to caprolactam, the company also produces ammonia, nitrogenous fertilizers and industrial gases.  The company is currently executing an investment program aimed at refurbishing, upgrading and expanding its production facilities; the investment to date has been mainly financed by the companys own resources, a domestic corporate bond issue and a local Russian bank.  Kuibyshevazot has a strong credit history and in September 2004 it was given an A+ national scale credit rating by the AK&M-RASO Rating Consortium.  IFC has been requested to provide a corporate loan to Kuibyshevazot to help refinance the bond and fund the companys ongoing capital expenditure program.
Home Center The project comprises the greenfield development of a chain of do-it-yourself (DIY) stores in Russia by Home Centers Ltd. (HC Russia or the company), a Russian limited liability company fully controlled by Israels leading DIY company, Home Center (DIY) Ltd. (HC Israel or the sponsor). The project comprises HC Russias investments during 2005-2010 and will include:  - the setting up of the companys headquarters and all the necessary support systems needed for the Russia-wide development of a DIY chain;  - the equipping and placing into operation of 16 project stores with the aggregate net sales area of approximately 160,000 square meters to be open before the end of 2010; and - maintenance and working capital investments. The project is expected to have the following key development impacts:  - Modern retail format in regions:    The companys strategy to expand its retail stores outside Moscow will bring modern, efficient retail formats to cities where such formats are underrepresented or non-existent.  - Increased local supply linkages:    The project will generate both downstream and upstream local supply linkages. It will create business opportunities to local suppliers and also provide necessary inputs to the housing and construction sectors.  - Providing consumers with a wide range of quality products at an affordable price:   Consumers will have improved access to convenience of high quality shopping, with a wide range of quality products and services at affordable prices. By selling a wide range of products and by opening a significant number of stores, the company is expected to benefit from economies of scale.  This will enable the company to pass on larger discounts to the consumers.  - Increased employment:    The project is expected to create permanent employment for over 5,000 people. It will also create significant temporary employment during construction as well as indirect employment in the transportation and delivery sectors.
SDM Loan Project IFC proposes to provide up to US$30 million equivalent in RUB (up to 3 years) senior loan to SDM-Bank Joint Stock Company (the Bank or SDM). The proceeds from IFCs investment would be directed towards on-lending to SME clients, which would increase their access to longer term local currency funding. The Project is expected to have significant developmental impact by: a) improving access to finance for mid-size Russian companies; b) strengthening a well-managed Russian bank and supporting its portfolio growth and diversification, and  c) strengthening product proposition to SMEs.
Brunswick Rail Leasing Brunswick Rail Leasing (BRL Russia or the company) is a Russian registered company formed in 2003 to provide railcar operating leases in Russia and neighboring broad gauge countries.  BRLs business model is based on acquiring railcars and leasing them to large industrial or transport companies on a long-term operating lease basis.  The first stage of BRLs operating plan consists of purchasing approximately 10,000 railcars for a total cost of $500 million to serve clients with whom BRL has signed lease agreements or is in contract negotiations (the Project).  At the end of September 2005, BRL had purchased 3,060 railcars through the capital provided by its shareholders and is now seeking debt financing to fund the remainder of the project.
KuAz Expansion The proposed investment would support Kuibyshevazot Open Joint Stock Company (KuAz) in implementation of its 2013-2016 capital expenditures program. The program is expected to result in production capacity expansion, streamlining of operations, improvement of cost-competitiveness, energy savings and reduction of greenhouse gases emissions. Investments to be financed under the proposed project will help KuAz implement its 2013-2016 capital expenditures program, which would result in expansion of production capacities, streamlining of operations, energy efficiency improvements and reduction of greenhouse gases emissions. The project is expected to create around 150 additional jobs at the Company.
TV3 Russia II The project consists of further funding the expansion strategy of TV3 Russia (TV3 or the company), a free-to-air television broadcasting group in Russia, and an existing client of IFC.  The company, which focuses on broadcasting entertainment-related content, is 100% owned by Independent Network Television Holding Limited (INTH), a sole purpose holding company incorporated in Cyprus whose shareholders are comprised primarily of Western strategic and financial investors.  TV3 broadcasts to a potential audience of 51 million viewers (35% of the Russian population) through a group of 35 affiliate stations, 13 of which are 100% subsidiaries of the company.  Through its expansion, TV3 plans to:   - increase distribution;  - improve programming; and  - upgrade the equipment of its affiliates.
RZB Russia Project Raiffeisenbank Austria was established in 1996 and has become one of the leading retail banks in the country with a solid reputation and a strong retail franchise.  As of December 2002, the bank ranked among the top 20 Russian banks in terms of assets (approximately $1.6 billion).  Raiffeisenbank Austrias equity amounted to approximately $133 million on December 18, 2002.  The banks main areas of activity are corporate, retail, and investment banking.  Raiffeisenbank Austria views mortgage finance as one of its strategic priorities and has been marketing this product actively on the market.  By providing the credit line to the bank, IFC will help Raiffeisenbank Austria expand its funding base, match its maturity needs, and enable it to provide long-term funds for mortgage finance, a sector that has an acute need for term financing.    In addition, the credit line would have a strong developmental impact on the still nascent Russian housing finance industry.  The proposed financing would cement IFCs strong global partnership with RZB in Central and Eastern Europe, and further extend this cooperation to Russia. This project is also a part of IFCs overall strategy to promote the development of the housing finance sector in Russia.
KuAz II Project The proposed project is an equity investment of up to $15 million in Kuibyshevazot Open Joint Stock Company (KuAz or the company), a leading Russian chemicals manufacturer and an existing IFC client.  Located in Togliatti, Samara region, KuAz produces caprolactam (the raw material for synthetic fibers, engineering plastics, automotive and other downstream products), polyamide 6, and ammonia and nitrogenous fertilizers. The development impacts of the project include:    - Improving competitiveness:  IFCs equity investment will facilitate companys access to long-term capital needed for its future modernization and expansions, which in turn will improve operational efficiencies, enhance product quality, increase the share of higher value-added products and therefore strengthen the competitiveness of KuAz.  - Strengthening financial position:    Improved competitiveness and enhanced margins will strengthen KuAz financial position and resilience to unfavorable market developments.  - Benefiting employees:     The company currently employs more than 5,300 people.  The project will facilitate additional employment as the company continues its growth and will allow KuAz to maintain its position as a major employer in the Samara region.  The new employees will receive training, competitive wages and benefits.   - Furthering linkages to the local community:  KuAz takes an active part in municipal regional and social projects. The companys charity and sponsorship efforts are aimed to support cultural projects, sport activities and low-income and disabled people. Moreover, the company provides support to kindergartens, schools and hospitals. KuAx actively cooperates with Togliatti charity funds. The project will facilitate further enhancement of KuAz community impact.  - Benefits to the environment:      The proposed project is expected to result in better use of production inputs thanks to continuous investment in modernization and better technology and improved environmental performance.    - Key impacts to monitor during supervision will include:    Share of higher value-added products, gross and EBITDA margins, number of employees and increase in average wage
Novomet Project Domiciled in Cyprus as a closed joint-stock company and headquartered in Perm, Novomet (Novomet or the Company) was established in 1991 by a group of six Russian engineers.  The Company is the second largest Electric Submersible Pump (ESP) producer in the Russian Federation (24% market share) and fifth largest producer globally (12% market share). ESPs are designed to pump oil from wells that are up to 4 km deep under harsh extraction conditions. Novomets annual sales in 2012 reached US$290 million and EBITDA US$84 million.   The project consists of providing senior debt facility of up to US$55 million to help finance a US$145 million project comprising: (i) US$80 million in capital expenditures, 30 million in working capital requirements for its expansion, including setting-up greenfield service centers in 6 countries (Turkey, Romania, Iraq, Mexico, Argentina and Indonesia); and (ii) US$30 million to re-finance part of its short-medium term debt (1-3 years of maturity) on a longer-term basis services (together, the Project). Complimentary financing will come from the Companys strong cash generation (US$90 million).  The expansion contemplated by Novomet will allow it to expand on its success to-date in expanding its market presence in select markets globally. Novomet has a leading position in the market, strong shareholder base and experienced management team with experience in international expansion. Novomet recorded strong operating performance with EBITDA margin of 28.8% (substantially above industry average of 16%), even though 80% of its sales are generated locally, where competition is substantial. Support to Manufacturing Sector in Russia: support to a manufacturing company involved in value added production in Russia.   Demonstration Effect: The Project is expected to encourage other Russian companies to invest abroad  Local Job Creation: The Project will lead to new employment opportunities in Russia and several other emerging economies EMENA (Turkey, Romania, Iraq), LAC (Argentina and Mexico) and Asia (Indonesia)   Income for the country: The Company through its operation will be generating increased tax revenue  Diversification of the local economy: the Project will enable the Russian economy to diversify further from natural extraction sector by creating more added value products in similar subsectors
Russia Residential Energy Efficiency Program The goal of the Project is to facilitate investments into energy efficient renovations of residential multi-family buildings in Russia and avoid CO2 emissions by creating an effective legal and institutional platform to support Russian home owner associations and housing management companies in getting access to finance for the purpose of improving energy efficiency of the country's existing housing stock.
This five-year, advisory services Project will take on a programmatic approach and will focus on the following key objectives:

Develop regulatory and legal environment addressing key legal and regulatory issues, in particular (i) the framework for energy efficiency in residential buildings and (ii) legislation enabling local home owner associations and management companies to access finance for the purpose of improving energy efficiency in multifamily buildings.  
Develop and market financially-viable residential energy efficient products by working with pilot Russian banks. 
Increase capacity and awareness about residential energy efficiency among key market stakeholders.  
The Project will be implemented jointly by IFC and EBRD, and will allow both entities to closely coordinate all sector work, leverage resources, and achieve greater impact by joining efforts. By partnering with EBRD, IFC further enhances its additionality as EBRDs involvement will provide additional investments in energy efficiency in the Russian residential sector and will allow each agency to capitalize on its strengths in addressing sector barriers. Successful implementation of the Project is expected to lead to avoidance of approximately 2.5 million tonnes of CO2 over the lifetime of the investments enabled by this Project (see next section).