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$5 million for leasing in Siberia and Russian Far East
Five-year loan to DeltaLeasing aimed at small and medium-sized businesses
Small and medium-sized businesses in the Russian Far East and Siberia are to
benefit from a $5 million loan from the European Bank for Reconstruction and
Development aimed at encouraging the development of leasing.
The five-year EBRD loan to DeltaLeasing will enable it to extend leasing
facilities on longer maturities to its target client base. DeltaLeasing does
not specialize in any single industry or equipment type, instead offering
leasing terms on a wide variety of equipment, including vehicles, to a broad
spectrum of clients.
The EBRD believes that the loan is an important boost for the whole leasing
sector, particularly in the Russian Far East, and that it will not only
strengthen the development of regional small and medium-sized businesses, but
also help increase the level of financial intermediation in these far-flung
territories.
The Vladivostok-registered DeltaLeasing, formerly known as DeltaLease-Far East
began operations in 2000 and has grown to become a leader in the provision of
lease finance to medium and small-sized Russian enterprises.
It is owned by the US Russia Investment Fund, which was established in 1995 by
the US Congress to offer financing and management support to Russian
enterprises, Russian-western joint ventures and western firms seeking to enter
the Russian market.
Apart from its headquarters in Vladivostok, DeltaLeasing maintains
full-service offices in Khabarovsk, Novosibirsk and on Sakhalin Island. The
Novosibirsk office additionally covers the cities of Tomsk, Novokuznetsk,
Kemerovo, Barnaul and Kranoyarsk and will be expanded to include Omsk and
Irkutsk in 2005.
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