EBRD extending Asian-Pacific Bank 1.05 bln rubles for financing small, midsized business, energy-efficiency projects
MOSCOW. Feb 6 (Interfax) - The European Bank for Reconstruction and Development (EBRD) and Blagoveshchensk-based Asian-Pacific Bank have signed credit agreements for 1.05 billion rubles for the financing of small and midsized businesses and energy-efficiency development projects, a joint press release issued by the banks says.
The statement says that 700 million rubles are destined for the former purposes and 350 million for the latter.
The implementation of these projects is the result of active cooperation between the two banks that began in 2011 and is part of the EBRD's strategy in Russia aimed at supporting the private sector and facilitating the Russian Sustainable Energy Efficiency and Carbon Finance facility (RSECF), the press release says.
In the fall of 2011, the EBRD extended the Asian-Pacific Bank a five-year credit of 1.2 billion rubles likewise for the financing of small and medium business. Prior to that, the EBRD had opened the bank a credit line of $8 million for the financing of its clients' import and export operations.
The Asian-Pacific Bank ended last year in 61st place by assets, 39th place by private funds, and 30th place by its portfolio of credits to legal entities on the Interfax-100 ranking of Russian banks.
