EDB begins to finance a project to develop a natural gas filling network in Russia
Moscow, 14 May 2013. Eurasian Development Bank (EDB) has provided to Gaztekhleasing the first tranche of the loan in the amount of more than RUB 160 million to finance the project to develop in Russia a network of compressed natural gas (CNG) and multi-fuel filling stations using the financial lease mechanism.
This project is being fulfilled in the framework of Gazprom’s Targeted Comprehensive Programme for CNG Filling Network and NGV Fleet Development. The purpose of the programme is to promote the use of gas as a cheaper and environmentally friendly fuel, including for both the municipal transport and agricultural equipment.
The project is expected to have a significant development effect. The creation of the gas transport network in Russian regions will influence positively the country’s transport infrastructure and will help to reduce organisations’ transport costs due to the extended life of NGVs.
The project will also contribute to the advancement of mechanical engineering and the services sector that manufacture and maintain special machinery and to the improvement of the ecological situation in the country by promoting fuel, which is more environmentally safe than petrol.
Additional Information
Gaztekhleasing is one of Russia’s largest leasing companies. According to Expert RA, the country’s leading rating agency, in 2012 the company ranked third in terms of lease payments received, fifth in terms of the size of its leasing portfolio and eighth in terms of the volume of new business. The company’s leasing portfolio includes a wide range of leased property: buildings and structures, sea and river vessels, rolling stock, cars and road construction equipment, oil and gas equipment, aviation equipment, software complexes and process control equipment.
Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital exceeds US $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. Read more at https://www.eabr.org