European Bank for Reconstruction and Development (EBRD) might loan $16m to Vladivsotok-based company DeltaLeasing, the bank reports.

The loan terms and interest rate have yet to be disclosed.

Under plans, the funds are to be invested into the company’s expansion into other RF regions, as well as to redeem the company’s foreign currency debt.

Delta Leasing works in the region’s of Far East, Siberia and Urals. The firm is by 99.9% controlled by Russian-Americal investment fund TUSRIF.