The European Bank for Reconstruction and Development (EBRD) will put US$15 million into a project to develop the leasing of Japanese construction and mining equipment in Russia.
Funds will be provided to Russian small- and medium-sized construction and mining enterprises that will use the equipment manufactured by Japan's Komatsu company.
The leasing scheme will be based on risk sharing between Sumitec company, Japanese Sumitomo Corporation's Russian subsidiary, and the bank.
Sumitec will be the sponsor of the project and the lessor, provide 100% of the rent and take on two thirds of the risks in each leasing operation.
The project is estimated at US$45 million, the EBRD said.
Source: Intefax
