The EDB lends RUB 3 billion to UMMC, Russia’s largest copper producer

05 October 2021

Moscow, 5 October 2021. The Eurasian Development Bank (EDB) extended RUB 3 billion to the Ural Mining and Metallurgical Company (UMMC) as part of a syndicated loan arranged by ROSBANK.

“We are pleased to be part of this syndicated loan, which opens our cooperation with UMMC, one of Eurasia’s major metallurgical holdings. We will finance the company’s investment programme and activities aimed at achieving its sustainable development goals. What matters here is that the Bank supports a systematic approach to environmental and social issues in traditional industries such as metallurgy and mining. I am sure that the extensive experience and high competence of our colleagues from UMMC will help us to implement all our plans,” said Nikolai Podguzov, Chairman of the EDB Management Board.

“Closing this transaction on another syndicated loan, I would like to note the interest shown by foreign and Russian partner banks, as well as the international financial institution, the Eurasian Development Bank. We appreciate the professionalism and cooperation of our partner teams, including ROSBANK (Societe Generale Group), Sberbank, Moscow Credit Bank, and Bank Saint Petersburg – the leaders in Russia’s syndicated loan market. This deal has marked the beginning of our cooperation with the EDB, which operates in a macro-region that is fundamentally important for our group,” commented Andrey Kozitsyn, CEO of UMMC.

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries. For 15 years, the Bank has worked to strengthen and broaden economic ties and foster comprehensive development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB's charter capital totals US $7 billion. The EDB’s portfolio mainly consists of projects with an integration effect in the areas of transport infrastructure, digitalisation, green energy, agriculture, industry, and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations. 

The Ural Mining and Metallurgical Company (UMMC) is a Russian metallurgical and mining holding and the country’s largest producer of copper, zinc, coal and precious metals, comprising more than 40 industrial enterprises in Russia and abroad.

The EDB Media Centre: 

Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty) 

Sergey Gorbachev +7 (916) 727 22 00 (Moscow) 

pressa@eabr.org

 

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2021