Information for fruit and vegetables business in CIS
EBRD expands Russian agrarian sector crediting
The European Bank for Reconstruction and Development is opening a US$10 million credit line to the Vneshtorgbank of Russia, a spokesperson for the bank said. The purpose of the credit line is to provide current assets to the "breadbasket" of Russian south. In 3 recent years the EBRD has been showing enhanced activities in supporting Russian farming, but it is the first time a credit line for the purpose has been opened to a bank with no foreign capital participating.
At the moment the EBRD has 168 agrobusiness investment projects signed on the total sum of more than EUR2.8 billion and 347 investment projects in Russia on the sum of EUR4.3 billion.