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www.amcham.ru/spb/news/nw/p905188295101790Jul 08, 2005: EBRD Finances Mall
ST. PETERSBURG (SPT) - The European Bank for Reconstruction and Development (EBRD) and the RZB Group will loan 65 million euros ($2.25 million) for the construction of a city retail center, the bank said Tuesday in a statement.
The money will go to Ralmir Finance to buy out the Raduga shopping mall being built by French holding Vinci Construction Grands Projects. Ralmir Finance represents a foreign investor group in Russia.
The EBRD will provide 32.5 million euros of the amount, with the rest to come from Raiffeisen Zentralbank Osterreich AG (Austria) and Raiffeisenbank (Russia) in equal proportions.
The banks did not disclose the interest rate on the 10-year loan. According to EBRD estimations, it will cover 55 percent of the costs of the 72,000-square meter mall.
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