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    Signature(s)

    Amount
    € 112,756,521.1
    Countries
    Sector(s)
    Russian Federation : € 112,756,521.1
    Credit lines : € 112,756,521.1
    Signature date(s)
    20/06/2013 : € 112,756,521.1

    Summary sheet

    Release date
    22 April 2013
    Status
    Reference
    Signed | 20/06/2013
    20130169
    Project name
    Promoter - financial intermediary
    VEB ENTREPRENEURSHIP FUND FOR SMES AND MID-CAPS
    BANK FOR DEVELOPMENT AND FOREIGN ECONOMIC AFFAIRS (VNESHECONOMBANK)
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 113 million
    not applicable
    Location
    Sector(s)
    Description
    Objectives

    A dedicated EIB fund to finance projects promoted by SMEs and mid-caps in Russia. This international fund aims to support entrepreneurship in Russia and is being set up by VEB and the German promotional bank Kreditandstalt für Wiederaufbau (KfW).

    Support to the local economy through the provision of long-term financing in particular to small and medium-sized enterprises (SMEs) and mid-cap companies.

    Environmental aspects
    Procurement

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

    Comments

    This operation is covered by the EU Guarantee for EIB loans outside the EU.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    News & Stories

    General enquiries and comments

    The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

    Media enquiries

    Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

    Complaints mechanism

    Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

    Zero tolerance against fraud and corruption

    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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