VEB ENTREPRENEURSHIP FUND FOR SMES AND MID-CAPS

Promoter – Financial Intermediary

BANK FOR DEVELOPMENT AND FOREIGN ECONOMIC AFFAIRS (VNESHECONOMBANK)

Location

• Russia

Description

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).

Objectives

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.

Comments

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

Sector(s)

• Credit lines - Credit lines

Proposed EIB finance (Approximate amount)

EUR 113 million

Total cost (Approximate amount)

not applicable

Environmental aspects

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

Procurement

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

Status

Signed - 20/06/2013