Sberbank Unit Gets $50 Million EBRD Loan to Boost its Lending

OJSC Belpromstroybank, controlled by Russian lender OAO Sberbank, has received a $50 million, five year loan from the European Bank for Reconstruction and Development to boost its lending, the EBRD said.

Belpromstroybank plans “to triple the EBRD’s commitment by earmarking an additional $100 million of its own funds for this lending program, which is targeted at micro, small and medium- sized enterprises”, the EBRD said today in e-mailed statement.

To contact the reporters on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net;

To contact the editor responsible for this story: Amanda Jordan at ajordan11@bloomberg.net.

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