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29.11.13

Signature event at the EU Delegation in Moscow

In the presence of H.E. Ambassador Usackas, Head of the EU Delegation to the Russian Federation, the signature of the finance contract between the European Investment Bank (EIB) and ZAO Raiffeisenbank Russia took place on 21 November 2013. This EUR 40 million loan in favour of a Russian subsidiary bank of a leading EU banking group, RBI Group, will support projects promoted by small and medium-sized companies in the Russian Federation.

The credit line, extended in the framework of the EU-Russia Partnership for Modernization, is the first-time EIB operation with the bank of RBI Group in the Russian Federation, and amongst the first EIB loans to subsidiaries of EU banks in the country.

Mr Wilhelm Molterer, EIB Vice-President responsible for lending operations in Russia commented: I appreciate that EIB funds will contribute to the development of the Russian private sector through improved access of SMEs and Mid-Caps to long-term finance. Today the EIB is joining forces with a major financing institution that has a well-established presence in the local market and serves SMEs and Mid-Cap companies, and this signature reinforces the partnership of the EIB with RBI group.

Mr. Arndt Roechling, Raiffeisenbank Head of the Financial Directorate, Member of the Management Board added: The European Investment Bank (EIB) is a long term important partner of RBI group. EIB and RBI have jointly implemented a significant number of projects in RBI network units in Central and Eastern Europe. But for Raiffeisenbank Russia this is the first project in cooperation with EIB. Development of Small and Middle-sized corporate customers is one of our priorities, and cooperation with EIB will support our plans for development of this segment. Within the framework of EIB program we could offer long-term financing to our customers under attractive terms.

Ambassador Vygaudas Usackas, Head of EU Delegation to the Russian Federation noted with pleasure: These credit facilities provide an important, additional concrete instrument helping businesses and contribute to the development of EU/Russia relations which ultimately benefit our citizens.

The Partnership for Modernisation, launched at the 25th EU-Russia Summit in 2010, serves as a flexible framework for encouraging reform, boosting growth and fostering competitiveness. All of these objectives are supported by promoting small and medium-sized enterprises and the exchange of experience between the EIB and Russian financial institutions on the subject of financial services for SMEs and mid-caps. To date, the EIB has extended 7 loans to support the Partnership for Modernisation, for a total amount of EUR 1.1 billion.


The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

The EIB finances projects in the Russian Federation on the basis of an EU Council and European Parliament lending mandate for the Eastern Neighbourhood countries (Armenia, Azerbaijan, Georgia, Moldova, Russia and Ukraine) of EUR 3.8 billion for the period 2007-2013 to contribute to local private sector development, the improvement of social and economic infrastructure, and climate change mitigation and adaptation.


ZAO Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. Raiffeisenbank ranks 12th among the Russian banks in terms of assets, based on Q3 2013 results (Interfax-CEA). According to the same Interfax-CEA data, ZAO Raiffeisenbank ranked 5th in terms of liabilities of individuals and 10th with regard to consumer lending.

Raiffeisen Bank International AG (RBI) regards both Austria, where it is a leading corporate and investment bank, and Central and Eastern Europe (CEE) as its home market. 15 markets of the region are covered by subsidiary banks, additionally the Group comprises numerous other financial service providers, for instance in the fields of leasing, asset management and mergers and acquisitions. RBI is the only Austrian bank with a presence in both the worlds financial centres and in Asia, the groups further geographical area of focus. In total, around 59,000 employees service about 14.4 million customers through more than 3,000 business outlets, the great majority of which are located in CEE. RBI is a fully-consolidated subsidiary of Raiffeisen Zentralbank sterreich AG (RZB). RZB indirectly owns around 78.5 per cent of the common stock, the remainder is in free float. RBIs shares are listed on the Vienna Stock Exchange. RZB is the central institution of the Austrian Raiffeisen Banking Group, the countrys largest banking group, and serves as the head office of the entire RZB Group, including RBI.

 

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