×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

EBRD Lends Bank $250M

Midsized Russian lender Credit Europe Bank has obtained a $250 million loan from a group of banks including the European Bank for Reconstruction and Development, the EBRD said Tuesday.

The European bank and the IFC, a member of the World Bank group, raised $250 million for Credit Europe Bank by pooling their own funds and obtaining $150 million from commercial banks.

Credit Europe Bank, part of the privately owned Turkish conglomerate Fiba Group, is ranked among Russia's top 60 lenders by assets, according to Interfax.

The bank could not immediately comment on how it planned to use the funds when contacted Tuesday.


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more