Identifier
Created
Classification
Origin
06MOSCOW10247
2006-09-14 11:41:00
UNCLASSIFIED
Embassy Moscow
how-toVZCZCXYZ0007 RR RUEHWEB DE RUEHMO #0247 2571141 ZNR UUUUU ZZH R 141141Z SEP 06 FM AMEMBASSY MOSCOW TO SECSTATE WASHDC 2280
UNCLAS MOSCOW 010247
SIPDIS
SIPDIS
STATE FOR EUR/RUS
STATE PASS TO OPIC
E.O. 12958: N/A
TAGS: ECON EFIN OPIC RS
SUBJECT: OPIC FINANCE: SDM BANK
REF: A. STATE 138794
¶B. ADDENDUM TO 4/14/06 MOSCOW ECONOMIC WEEKLY
Embassy has no objection to the proposed OPIC loan guarantee
for SDM Bank to provide loans to small and medium enterprises
outlined in Reftel A. Moreover, Consolidated Consular
Database checks reveal no adverse information about the
bank's CEO and major shareholders. Reftel B, Embassy's 2005
banking sector report, notes that in recent years, bank
assets have shifted more heavily to loans of various types.
Consumer lending has grown most rapidly, but significant
potential remains for developing lending to small and medium
enterprises. Embassy will provide a copy of this report and
additional information on Russia's banking sector and
Firebird Management's activities in Russia to Senior
Investment/Finance Officer Richard Greenberg.
BURNS