The EDB provides a loan facility to Center-Invest Bank for an SME support programme in Russia
Almaty, 27 April 2018. The Eurasian Development Bank (EDB, Bank) and Center-Invest Bank (Center-Invest) signed a framework agreement on the extension of a RUB 600 million, five-year loan facility to implement an SME support programme in Russia.
The project aims to facilitate the sustainable development of small and medium-sized enterprises, promote a competitive environment, and enhance the competitiveness of SMEs in domestic and foreign markets.
Center-Invest and the EDB have partnered since 2012. Over this period, the EDB extended six loan facilities to Center-Invest, totalling RUB 900 million, as part of its programmes aimed at supporting and developing SMEs and improving energy efficiency in the Bank’s member states. To date, Center-Invest has invested all the funds in the region’s economy and repaid the EDB’s loans in full.
Additional Information:
The Eurasian Development Bank (EDB) 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. The EDB's charter capital totals US $7 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.
The EDB Media Centre:
+7 (727) 244 40 44, ext. 6147 (Almaty)
Center-Invest Bank is the largest bank in Southern Russia. Set up in 1992 in Rostov-on-Don, it is currently one of Russia’s top ten banks in terms of lending to SMEs. The bank’s shareholders include the Eurasian Bank for Reconstruction and Development (19.74%), DEG – Deutsche Investitions- und Entwicklungsgesellschaft (16.14%), Vasily and Tatiana Vysokov (24.43%), Erste Group Bank AG (9.01%), and responsAbility Investments AG (10.02%). Center-Invest has 127 branches and offices in Rostov and Volgograd Regions, Stavropol and Krasnoyarsk Krais, Nizhny Novgorod, and Moscow.
Read more at https://www.centrinvest.ru/