13 May 2004 02:19
KMB Bank raises $12.5 mln from KfW
The banks signed the loan agreement on April 28, KMB Bank reported.
The loan is the first in a 50 million euro program aimed at financing
MOSCOW. May 12 (Interfax) - KMB Bank the only foreign bank in Russia created specifically to serve and promote
micro-, small, and medium-sized businesses, will receive a $12.5 million loan from KfW of Germany.
for small and mid-scale businesses through Russian and international banks. Further, refinancing will be provided for
banks disbursing loans to small business of from 5 million to 10 million euros for up to seven years. KfW received a
government guarantee, covering the Russian risk, for the project.
KMB Bank was ranked number 82 by asset volume in the Interfax-100 list
of Russia's banks on January 1 2004. list is compiled by the Interfax
The program will also be of interest to German businessmen that already do, or plan to do business with Russia, KMB
Bank said.
Center for Economic Analysis.
[Interfax] |
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