MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Provides $94m Loan to Credit Europe Bank of Russia for SMEs

The European Bank for Reconstruction and Development (EBRD), a London-based development finance institution, recently announced it is providing an unsecured, five-year loan of RUB 2.9 billion (USD 94 million) to Credit Europe Bank Limited of Russia. The financing is intended to support local currency loans to small and medium-sized enterprises (SMEs).

Credit Europe Bank is a Russian commercial bank with a focus on the retail sector, SMEs and financing import/export operations. Credit Europe Bank reported total assets of RUB 67 billion (USD 2.3 billion) as of December 31, 2008.

EBRD reported total assets of EUR 32.5 billion (USD 41.2 billion) as of December 31, 2009.

By Jennifer Shevock, Research Associate

About European Bank for Reconstruction and Development:
The European Bank for Reconstruction and Development (EBRD) is a development finance institution headquartered in London. The bank began operations in 1991 and is now owned by 61 countries as well as the European Investment Bank and the European Union. It aims to finance operations that are both commercially viable and assist development in countries in Eastern Europe and Central Asia. It does this by providing loans, debt securities, equity investments, guarantees and technical assistance to micro- and small businesses as well as commercial banks and non-bank microfinance institutions. EBRD reported total assets of EUR 32.5 billion (USD 41.2 billion) as of December 31, 2009.

About Credit Europe Bank Limited (Russia):
Credit Europe Bank is a Russian commercial bank with a focus on the retail sector, SMEs and financing import/export operations. Credit Europe Bank reported total assets of RUB 67 billion (USD 2.3 billion) as of December 31, 2008.

Sources and Additional Resources:
“EBRD Lends 2.9 billion Roubles for Russian Small Businesses” August 31, 2010. http://www.ebrd.com/pages/news/press/2010/100831.shtml

MICROCAPITAL BRIEF: “European Bank for Reconstruction and Development (EBRD) Provides $1.5m Loan to Bai-Tushum to Support Micro- and Small Enterprises in Kyrgyz Republic” August 4, 2010. https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-provides-1-5m-loan-to-bai-tushum-to-support-micro-and-small-enterprises-in-kyrgyz-republic/

MICROCAPITAL BRIEF: “European Bank for Reconstruction and Development (EBRD) Loans $4m to JSCB Senagat and Turkmenbashy of Turkmenistan for SMEs” July 28, 2010. https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-loans-4m-to-jscb-senagat-and-turkmenbashy-of-turkmenistan-for-smes/

MICROCAPITAL BRIEF: “International Finance Corporation (IFC) and European Bank for Reconstruction and Development (EBRD) Syndicate $164m Debt Financing Package for Russia’s Transcapitalbank” July 22, 2010. https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-and-european-bank-for-reconstruction-and-development-ebrd-syndicate-164m-debt-financing-package-for-russia%E2%80%99s-transcapitalbank/#more-6019

MICROCAPITAL BRIEF: “European Bank for Reconstruction and Development (EBRD) Syndicates $185m Debt Facility for Turkey, Primarily for Microfinance, SMEs” June 30, 2010. https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-syndicates-185m-debt-facility-for-turkey-primarily-for-microfinance-smes/#more-5511

MicroCapital Universe: European Bank for Reconstruction and Development: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=European+Bank+for+Reconstruction+and+Development+(EBRD)

MicroCapital Universe: Credit Europe Bank Limited (Russia): https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=credit+europe+bank

Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/

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