CBM REPAID US$10MLN SME LENDING FACILITY GRANTED BY EBRD
On 20 January 2011 CBM fully repaid US$10mln 5-year credit line granted for financing of Small and Medium-sized Enterprises (SMEs) by European Bank for Reconstruction and Development (EBRD).
This 5-year loan was the Bank’s first long-term financing provided by EBRD. Granted credit line allowed CBM to extensively develop SME financing, which supported further strengthening of CBM’s position in this market segment. Such timely loan repayment yet again confirms the high-level reliability and creditworthiness of CREDIT BANK OF MOSCOW. CBM further on plans to continue its effective cooperation with EBRD and other international financial institutions (IFIs) in a range of projects, including lending to SMEs in Russia.
It is worth mentioning that the total amount of limits from major IFIs available to the Bank for various types of operations exceeds US$370mln. Particularly, the Bank is currently involved in SME financing facilities for the total amount of US$53mln from EBRD and Black Sea Trade and Development Bank (BSTDB), mortgage financing program with International Finance Corporation (IFC), subordinated loan facilities for the amount of US$20mln each from EBRD and BSTDB. Being an active member of TFP and GTFP programs, CREDIT BANK OF MOSCOW has trade finance lines established by EBRD and IFC in the amount of US$100mln and US$140 mln, respectively. The Bank is also involved in US$40mln agricultural and energy efficiency financing facility within A/B syndicated loan, arranged by IFC.