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Vneshtorgbank Retail Financial Services has attracted a five-year $200 million syndicated loan from the European Bank for Reconstruction and Development
Vneshtorgbank Retail Financial Services (VTB24) has attracted a five-year $200 million syndicated loan from the European Bank for Reconstruction and Development, the Russian credit organization said Monday. "The loan will be used to provide credit to micro, small and medium enterprises," VTB24 said in a statement. EBRD said it will lend VTB24 a total of $150 million of its own funds, and another $50 million will be syndicated by a pool of foreign banks. The syndicate's organizer is Barclays Capital, the investment arm of UK-based Barclays Bank. VTB24, a subsidiary of state-controlled foreign trade bank Vneshtorgbank, specializes in servicing individuals, private entrepreneurs and small businesses. The company's shareholders are VTB, with 95.39% of shares, and the Russian Federal Property Fund, with 4.05%. VTB24 has 150 offices in Moscow, the Moscow Region, and other regions.
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