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Small and medium-sized businesses in the Russian Far East and Siberia are to benefit from a US$5mn loan from the European Bank for Reconstruction and Development (EBRD) aimed at encouraging the development of leasing.
The five-year EBRD loan to DeltaLeasing will enable it to extend leasing facilities on longer maturities to its target client base. DeltaLeasing does not specialise in any single industry or equipment type, instead offering leasing terms on a wide variety of equipment, including vehicles, to a broad spectrum of clients.

The EBRD believes that the loan is an important boost for the whole leasing sector, particularly in the Russian Far East, and that it will not only strengthen the development of regional small and medium-sized businesses, but also help increase the level of financial intermediation in these far-flung territories.

The Vladivostok-registered DeltaLeasing, formerly known as DeltaLease-Far East began operations in 2000 and has grown to become a leader in the provision of lease finance to medium and small-sized Russian enterprises.

It is owned by the US Russia Investment Fund, which was established in 1995 by the US Congress to offer financing and management support to Russian enterprises, Russian-western joint ventures and western firms seeking to enter the Russian market.

Apart from its headquarters in Vladivostok, DeltaLeasing maintains full-service offices in Khabarovsk, Novosibirsk and on Sakhalin Island. The Novosibirsk office additionally covers the cities of Tomsk, Novokuznetsk, Kemerovo, Barnaul and Kranoyarsk and will be expanded to include Omsk and Irkutsk in 2005.