Sorainen Belarus advised the International Finance Corporation (IFC) on the provision to Priorbank of a seven-year senior finance loan of the equivalent of up to USD 50 million.
The loan would be used for on-lending to mortgage borrowers, including for green mortgages, and/or for renovation loans for energy-efficient homes in Belarus.
IFC is a global financial institution investing exclusively in for-profit private-sector projects in developing countries. IFC is a member of the World Bank Group and has its headquarters in Washington, D.C. in the United States.
Priorbank is one of the largest private Belarusian banks, part of the Austrian Raiffeisen group.
Sorainen team’s assistance to IFC included revision of the transaction documents, and conducting limited legal due diligence of the Belarusian bank, as well as issuing a legal opinion. The Sorainen team consisted of partner Kiryl Apanasevich, senior associate Ann Laevskaya and associate Artem Melnikovich.
