The European Bank for Reconstruction and Development (EBRD) plans to increase loans to small business in Russia to US$2 billion toward the end of 2004, according to the EBRD coordinator for small business support in Russia.
The EBRD has allocated 175,000 loans since 1994 totalling US$1.4 billion and now aims to develop the programme further so that the figure could rise to US$2 billion this year.
The EBRD allocated about US$290 million in 2002, about US$350 million in 2003 and over US$50 million in the first months of 2004.
The current programme loan portfolio totals US$250 million, disbursed to 45,000 borrowers. Loans per month total an average of US$30 million to US$35 million.
