Under the agreement, experts from the International Finance Corporation (IFC), the private sector arm of the World Bank Group, will analyze the domestic credit and regulatory documentation of Sobinbank and develop recommendations for organizing and providing mortgage credit.
The main goal of the project is to develop the mortgage credit infrastructure in the country, taking into account international experience, and to stimulate growth on Russia's mortgage market.
Sobinbank, founded in 1990, specializes in corporate customer services in various areas of the Russian economy. Its main corporate shareholder is Russian diamond monopoly Alrosa.
The main role of the IFC is to promote sustainable private sector investment in developing markets.
