The European Bank for Reconstruction & Development was established in 1991 to enable growth of the private sector in Eastern Europe after the fall of Communism. The Bank uses tools of investment to help build market economies and democracies in twenty-seven countries. The Bank is owned by member / shareholder countries with over å¥20 billion in subscribed capital and maintains a AAA credit rating.
The European Bank for Reconstruction & Development made its first-ever local currency loan to the Kazakhstan Loan Fund. The KZT 267.14 million loan (approximately US$2 million) will develop on-lending across the fund’s product base that includes Business Loan Group solidarity loans, individual loans, and group consumer lending. The Kazakhstan Loan Fund has been a presence in European microfinance for 9 years now. With a gross loan portfolio of US$6,154,594 and total assets of US$7,231,359, the fund created a return on assets of 7.20% over 2004. By January of 2006, that loan portfolio had grown to US$11.6 million.
Continue reading “European Bank for Reconstruction & Development Backs Alter Modus of Montenegro, Kazakhstan Loan Fund, and Moldovan Rural Finance Corporation with New Microcredit Investments”
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