The European Bank for Reconstruction and Development (EBRD), an international financial institution headquartered in the UK, recently announced that it will lend RUB 2.0 billion (USD 42.8 million) to UniCredit Leasing Russia (UCLR), the Russian leasing division of the European banking group, for on-lending to small and medium-sized businesses in Russia. This five-year loan will support the plans of UCLR—which functions nation-wide—to meet a growing demand for leased equipment and heavy vehicles. From 2008 to 2010, EBRD provided funding totaling EUR 430 million (USD 616 million) in support of UniCredit, a European asset financing company operating in 17 countries with total assets of EUR 930 billion (USD 1.33 trillion) as of December 2010.
About European Bank for Reconstruction and Development (EBRD): EBRD is a development finance institution headquartered in London. The bank began operations in 1991 upon the agreement of 40 countries and is now owned by 61 countries as well as the European Investment Bank and the European Union. It aims to finance operations that are both commercially viable and assist development in 29 countries in Eastern Europe and Central Asia. It does this by providing loans, debt securities, equity investments, guarantees and technical assistance to micro- and small businesses via commercial banks and non-bank microfinance institutions (MFIs). Its operating assets for fiscal 2009 were reportedly EUR 6.1 billion (USD 8 billion).
About UniCredit: Founded in 2007, UniCredit Leasing has divisions in 17 European countries. UniCredit Leasing is a member of UniCredit Group, which has total assets worth EUR 1.06 trillion (the equivalent of USD 1.443 trillion). UniCredit Group was created in 1998 by the merger of nine Italian banks and now has offices in 22 countries across Europe.
Additional resources:
European Bank for Reconstruction and Development (EBRD) news stories “EBRD backs UniCredit leasing in Russia: Five-year loan to help small businesses, particularly in Russia”, http://www.ebrd.com/english/pages/news/press/2011/110624e.shtml
MicroCapital Universe Profile: European Bank for Reconstruction and Development (EBRD)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Eur…
MicroCapital Universe Profile: UniCredit Leasing
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Uni…
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