International Investment Bank has joined a group of lenders, which will provide long term financial support for Rosvodokanal Group, the Russian largest private operator of water supply and drainage, one of the national leaders in the housing and utility services sector.

The deal was arranged by Raiffeisenbank. Along with IIB, Alfa-Bank, Rosbank and OTP Bank were also among its participants.

Currently, the Group's subsidiaries provide access to clean water for 5.5 million individuals and more than 40 thousand companies, annually supplying 557 million cubic meters of clear water and receiving 521 million cubic meters of wastewater for treatment. Rosvodokanal manages a water supply and sewerage network of over 16.5 thousand kilometres. The Group’s share of the Russian market for private water supply and drainage exceeds 20%.

The allocated funds will be directed by the borrower for refinancing of current obligations, financing of capital costs aimed at comprehensive modernization of water supply systems and water quality improvement of major cities and industrial centers of Russia. The Group's strategic plans also envisage further comprehensive business and geographical expansion.

It is important to underline that this transaction was the first syndicated loan in Russia, fully executed in a digital format with a use of enhanced qualified electronic signature (EQES) technology.

“Clean water and sanitation” is one of Sustainable Development Goals declared by the UN. As a multilateral development bank, in its operations IIB pays special attention to projects aimed at achieving these important benchmarks, "said Georgy Potapov, Deputy Chairperson of the IIB Management Board, in charge of Lending and Investment. "We are pleased to financially support ambitious plans of Rosvodokanal aimed at modernisation of the national housing and utility infrastructure, efficient use of water resources, as well as comprehensive improvement in the quality of water supply in one of our member states."