ZAO Raiffeisenbank Austria (RBRU)

MIGA has provided Raiffeisen Zentralbank Österreich AG (RZB) of Austria with a $57 million guarantee to cover its $60 million shareholder loan to ZAO Raiffeisenbank Austria (RBRU). The guarantee is for six years, and is against the risks of transfer restriction and expropriation of funds.

The project will finance the expansion of RBRU's operations in Russia, and is expected to have a strong developmental impact by providing short- and medium-term financing to companies in Russia, supporting the privatization of Russian companies and addressing the financing needs of SMEs. In particular, RBRU focuses on preexport finance and equipment finance, which benefit Russian exporters and the manufacturing industry, supporting Russia's balance of payments and a diversification of its export base. Over the next 5 years the bank expects to add another 95 employees, who will benefit from the RZB network for on- and off-site training.