Urals | Finance, business

VEB/ERDB loans $22,2m for Uraltransbank SME's

7 Nov '08
Ekaterinburg-based Uraltransbank has announced plans to take out $22.2m subordinated loan with state-run Vnesheconombank (VEB) and European Bank for Reconstruction and Development (EBRD), Uraltransbank reports.

Under RF laws, VEB grants banks subordinated loans, worth 15% of the equity capital given that the same amount comes by the third party in this case, EBRD.

The loan will be made in December this year and run for five years.

The funds would be used to support loans to regional small businesses, the bank said.
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