IIB loan and documentary portfolio exceeds EUR 1 bln
The International Investment Bank (IIB) announced that the volume of its loan and documentary portfolio has exceeded EUR 1 billion, after registering a record growth of 18% since the beginning of 2019.
The EUR 1 bln mark was surpassed on December 12, after the disbursement of funds under two loans provided by IIB to the Russian company "Nord Hydro - Bely Porog" and the Romanian company "BT-Leasing".
The mentioned projects are aimed at the development of renewable energy sector in the Russian Federation, namely, construction of two small hydropower plants in order to supply energy to hard-to-reach areas in the north-west of the country, as well as support of the SME sector in Romania, which constitutes a substantial part of the countryʼs economy.
"Strengthening the IIB position in Europe in the context of its relocation, we continue to maintain the institute’s overall loan portfolio as geographically balanced as possible, investing in projects in each member state, and also conducting transactions in third countries exclusively in the interests of our shareholders," says Georgy Potapov, deputy chairperson of the IIB management board in charge of lending and investment.
"Having increased the amount of financing to a historical value of 1 billion euros, we even exceeded our goals and intend to maintain the high dynamics of the Bank’s core business growth," he adds.
Today, more than 52% of the total loan portfolio of IIB is allocated for projects implemented in the interests of its European member states, the bank says.
Infrastructure and SME support are among key priority sectors of IIB. Integration projects - which IIB defines as transactions in the interests of two or more member states - currently account for 17% of the portfolio.
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