EU BANK PLANS BOOST TO BOOSTING RUSSIAN AUTO LOAN MARKET
September 1st, 2006
BY MARK ROWE
THE EUROPEAN Bank for Reconstruction and Development (EBRD) is planning to boost to the Russian car market by pumping up to Euro 300 million into the Russian Standard Bank, financing existing auto loans, and enabling the bank to make Euro 300 million's worth of new car loans - worth more than 30,000 smaller autos.
The proposed securitisation project would refinance retail auto loans already lent by MDM-Bank, a privately owned Russian bank that belongs to top 10 banking institutions in Russia, freeing up capital and providing new funding to make ...
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