EBRD to allocate credit to Moscow energy utility

The European Bank for Reconstruction and Development (EBRD) and Moscowenergy grid Mosenergo have signed a credit agreement today. According tothe agreement, the EBRD will allocate a credit worth $70m to Mosenergo forfive years with one amortization payment per six months. The energy companywill use this credit for carrying out reforms and financing theconstruction of new utilities. In particular, $35m will be allocated by theEBRD itself and the remaining part of the credit will be provided byseveral international banks.In its turn, Mosenergo made a decision to include a representative of theEBRD in its committee for reforms..

©

&to=http://www.ebrd.com' target=_blank>EBRD

&to=http://www.mosenergo.ru/eng/news.htm' target=_blank>MOSENERGO