11 Dec 2012 13:09

EBRD opens 2-bln ruble credit line to Orient Express Bank

MOSCOW. Dec 11 (Interfax) - The European Bank for Reconstruction and Development (EBRD) has opened a 2 billion ruble line of credit for Russia's Orient Express Bank, Orient Express said in a press release.

The bank said 1.7 billion rubles (42 million euros) would be allocated for small business development projects and 300 million rubles (7.4 million euros) would go towards supporting energy efficiency projects.

Orient Express plans to further improve its product range, applying EBRD experience, the release said. The bank plans to launch a separate product for energy efficiency project financing in 2013 and to develop remote services for the small business segment.