EDB provides loans to Center-Invest Bank to finance SMEs and energy efficiency projects

Almaty, 30 April 2014. Eurasian Development Bank (EDB) opened two loan facilities for Center-Invest Bank for a total of RUB 300 million to finance small and medium-sized enterprises (SME) and energy efficiency projects.

The funds were provided in the framework of the EDB targeted loan facility programmes for financial institutions: to support and develop SMEs and to improve energy efficiency in the Bank member states.

Center-Invest will select borrowers on its own, in accordance with the criteria approved by EDB, and provide them sub-loans to advance their businesses and fulfil energy efficiency projects.

The project will help create and enhance favourable conditions for the sustainable development of SMEs, develop a competitive environment and improve SMEs’ competitiveness in domestic and foreign markets, reduce and improve the efficiency of energy and resources consumption, and promote renewable energy sources.

In 2012-2013 EDB provided four loans to Center-Invest within the above programmes for a total of RUB 600 million. The loans have been used in full to finance dozens of projects of the bank’s clients.

Additional Information

Center-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 include the European Bank for Reconstruction and Development (27.45%), the German Investment Corporation (DEG; 22.45%), and Erste Group Bank AG (9.80%), among others. 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.