Volga | Finance, business

GfW Ipex-Bank to loan $74m to Tatarstan SMEs through VEB

3 Nov '09
German state-owned Kreditanstalt für Wiederaufbau Ipex-Bank intends to loan $74m to Russian state-run Vnesheconombank (VEB) to be loaned to small and medium businesses in the Republic of Tatarstan to be spent on purchase of German equipment through leasing, Kommersant reports.

VEB is reportedly to get the funds from the German bank at 5.5-6% interest, and is to loan them to leasing companies at 9-10%.

Experts say, that leasing companies normally charge about 3-4% interest, thus final consumers are to pay about 12-14% interest on the funds.
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Tags: SME (248) / Germany (237) / VEB (148) / Vnesheconombank (139) / Kreditanstalt fur Wiederaufbau Ipex Bank (0) /

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