OREANDA-NEWS. July 25, 2011. SORAINEN Belarus acted as local counsel for International Finance Corporation (IFC) on extension of a USD 10 million (EUR 7 million) loan to Minsk Transit Bank for energy efficiency, and small and medium enterprise (SME) financing. The purpose of the investment is to provide general support to the private sector in Belarus as well as to facilitate energy saving and GHG emission decrease initiatives, reported the press-centre of SORAINEN.

Minsk Transit Bank is a fast growing Belarusian private mid-size bank dedicated to SME and retail lending. The Bank's main market is the city of Minsk, where according to the Bank's own estimates it holds approx 20% of the SME and retail market. Currently, Minsk Transit Bank operates 30 outlets in Belarus, including 15 outlets in the country's capital.

The SORAINEN team performed limited due diligence on the borrower, advised on the implications of Belarusian law for the terms of the loan agreement and issued a legal opinion. IFC was advised by partner Kiryl Apanasevich and senior associate Ann Laevskaya.