06 Nov 2001
20 Jun 2001
The EBRD proposes to lend €11.1 million to DeltaLeasing, which will make financial leases available to small and medium-sized enterprises (SMEs) in Russia.
The project will support DeltaLeasing’s efforts to increase its lease portfolio of SME clients in 17 cities of Russia. Funds will be used for providing leases to eligible SMEs, which require funding to update or expand their production activities.
The operation will boost the capability of an existing leasing business to provide term finance to SMEs in Russia. Supporting the expansion of the leasing market in Russia is important for stimulating growth and investment. A healthy leasing sector will assist in bringing increased flows of financing to the production sector of the economy and result in a wider choice of financing options for Russian SMEs, which are the grass roots of economic growth and reform.
DeltaLeasing is a wholly-owned leasing subsidiary of the US-Russia Investment Fund (TUSRIF).
Loan of US$ 10 million (€11.1 million).
US$ 10 million (€11.1 million).
Delta Leasing will adopt and implement EBRD's Environmental Procedures for Leasing to assess any potential environmental issues associated with leases, including compliance of leased assets with applicable environmental and health and safety regulations and product standards.
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