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An agreement on the financing of SMEs between the Asia-Pacific Bank and the International Investment Bank
The Asia-Pacific Bank and the International Investment Bank have signed an agreement on the financing of small and medium-sized businesses that are implementing innovative, modernization, and energy-efficient projects, mainly in the Far East and Siberia. For these purposes, IIB provides a five-year loan in the amount of 20 million euros, the institute said.
The loan agreement was signed by Deputy Head of IIB Vladimir Liventsev and Chairman of the Board of the Asia-Pacific Bank Sergey Tirtsev. The document contains requirements for projects and borrowers, reflecting both the planned economic effect and compliance with the criteria for achieving quality goals in the field of energy efficiency and innovation. According to Vladimir Liventsev, this approach reflects the Bank's strategy aimed at supporting projects combining commercial viability and positive social results. To this end, IIB as a development institution is ready to provide such short-term resources currently in short supply on competitive and affordable terms.
Sergey Tyrtsev noted that "lending to SMEs is one of the priority business areas of the Asia-Pacific Bank, and the partnership with the IIB will improve the efficiency of credit products for the region's enterprises."
"The allocation of credit resources ATB has for an updated IIB an important geographical component. The Bank's funds are invested for the first time in support of enterprises operating in the Far East and Eastern Siberia, "the chairman of the IIB board, Nikolai Kosov, added.
In the course of the negotiations after the signing of the loan agreement, the heads of the IIB and ATB discussed the prospects of joint lending to a number of projects in the east of Russia, Vietnam and Mongolia.