EBRD to raise credit for small business in Russia
ST. PETERSBURG. March 18 (Interfax-Northwest) - The EBRD plans to raise loans to small business in Russia to $2
billion toward the end of 2004, EBRD coordinator for small business support in Russia, Irina Dzhusup, said Thursday in
St. Petersburg.
The EBRD has allocated 175,000 loans since 1994 totaling $1.4 billion and now aims to develop the program further so
that the figure might rise to $2 billion this year, she said.
The Bank allocated about $290 million in 2002, about $350 million in 2003 and over $50 million in the first months of
2004.
The current program loan portfolio totals $250 million, which has been disbursed to 45,000 borrowers. Loans per month
total an average of $30 million to $35 million, she said.
Dzhusup said 92% of the borrowers are not legal entities, 6% are limited liability companies and 1% are private joint
stock companies. Entrepreneurs involved in trade receive 78% of the loans, production - 6%, and services - 16%. [RU ASIA
EUROPE EEU EMRG BNK LOA DBT ECI] me <>
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