UniCredit Leasing Russia will use a $54 million loan from the European Bank for Reconstruction and Redevelopment to finance leases to energy efficiency projects.
The focus of the program will be small and medium-sized business in industry and agriculture across Russia, EBRD said in a press release Friday.
Russia is one of the most energy-intensive countries in the region, with energy intensity 2.5 times that of the European Union, the bank said, adding that it had already invested more than џ100 million ($138 million) in energy efficiency related projects.
UniCredit Leasing, part of the Italian banking multinational UniCredit, has operations in about 20 Central and Eastern European countries and is one the biggest leasing companies in Russia, according to the company's website.
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