Support The Moscow Times!

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.

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.