EDB provides a new loan to Centr-Invest Bank to finance small and medium-sized businesses in Russia
Almaty, 23 April 2013. Today Eurasian Development Bank (EDB) provided to Centr-Invest Bank a three-year non-revolving loan facility for a total of RUR 150 million to finance small and medium-sized businesses (SMB) in Russia. The loan has been provided in the framework of the EDB Programme for the Support and Development of Small and Medium-Sized Businesses through the Provision of Targeted Loan Facilities to Financial Institutions.
Centr-Invest Bank will select SMB, who meet the criteria approved by EDB and will receive finance, on its own and will provide them targeted sub-loans for business development.
The project will help create and advance favourable conditions to ensure the stable development of SMB, enhance their competitive environment and improve their competitiveness in domestic and foreign markets, as well as to build the infrastructural and institutional base for developing the market economy in the country’s southern regions.
This is EDB’s second loan for Centr-Invest Bank to finance SMB in Russia. The first one amounting to RUR 150 million was provided in June 2012.
In addition, in the past year EDB provided to Centr-Invest Bank two loans for a total of RUR 300 million in the framework of its programme to improve energy efficiency.
Additional Information
Centr-Invest Bank is the largest regional bank in the south of Russia. It was set up in 1992 in Rostov-on-Don. The bank’s shareholders are the European Bank for Reconstruction and Development (27.45%), the German Investment Corporation (DEG; 22.45%), the Firebird Investment Fund (9.90%), Erste Group Bank AG (9.80%), Renaissance Capital (8.15%), and Raiffeisenlandesbank Oberоesterreich AG (3.58%). The bank has more than 140 branches and offices in Rostov and Volgograd Regions and in Stavropol and Krasnodar Krais. Read more at https://www.centrinvest.ru/
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.