The EBRD is lending Rosbank 5.25 billion roubles (equivalent to €138 million at current exchange rates) to make more credit available to the country’s small businesses as well as to fund the energy efficiency projects of its clients.
The five-year loan to Rosbank is made up of two tranches. A senior loan of 4.4 billion roubles (equivalent to €115 million) is earmarked for medium-term local currency credits to privately-owned small businesses, as part of the EBRD’s anti-crisis response, in order to finance investments and working capital.
In addition, an energy efficiency loan of 875 million roubles (equivalent to €23 million) will be used to help Rosbank’s industrial clients invest in energy-conservation projects which will make their businesses more efficient and competitive.
According to Vladimir Golubkov, this deal contributes in expanding of cooperation between Rosbank and EBRD. “Rosbank’s wide customer base and one of the largest regional branch networks in the country will ensure the most effective utilization of the fund,” – he said.