EBRD RUSSIA
January 1st, 2004
BY KEITH NUTHALLTHE EUROPEAN Bank for Reconstruction and Development (EBRD) is teaming up with Japanese-owned Sumitec International to create a US$45 million facility, providing lease financing for Russian companies expanding or modernising their mining equipment. The scheme will especially focus on Siberia and other far-east regions of Russia, which - said a bank memorandum - "are currently under-serviced by the leasing industry." Borrowers would use Komatsu equipment and Sumitec would take on a two-thirds risk share for each transaction. The bank intends to ...
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