EBRD loans RUB 1.7bn to Orient Express Bank
The European Bank for Reconstruction and Development (EBRD) has provided Orient Express Bank (OEB) with a three-year loan totalling RUB 1.7bn.
The loan is part of EBRD's Russian Small Business Fund, which has made 720,000 loans worth $11bn since 1994.
OEB is based in Khabarovsk and operates 1,200 branches throughout Russia. Its shareholders include World Bank investment arm IFC (International Financing Corporation), which holds 14%, as well as private equity funds Baring Vostok Capital Parnters and Russia Partners. Baring Vostok owns 30% of the bank, while Russia Partners' stake amounts to 7%.
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