European Bank for Reconstruction and Development provides CHELINDBANK JSC with 140m RUR for mortgage lending development

3 October 2006 (11:48)

CHELINDBANK JSC and European Bank for Reconstruction and Development signed a 140m RUR credit agreement for the term of 7 years. The funds attracted by CHELINDBANK are to be invested in mortgage lending development.

The agreement represents another step in active cooperation of EBRD and CHELINDBANK that began in 2002 within the framework of EBRD small business support program, said the spokesperson for CHELINDBANK to UrBC representative.

‘We hope that the signing of the agreement will open up the era of effective cooperation between our banks in the field of mortgage lending,’ said GD of CHELINDBANK Mikhail Bratishkin.

‘European Bank for Reconstruction and Development considers CHELINDBANK to be one of the best partner banks participating in the small business support program and is going to develop its cooperation with CHELINDBANK, including the mortgage loan financing,’ indicated EBRD bank consultant Dmitry Zorin.

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