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Center-invest Bank: An umbrella for SMEs in the South of Russia

EBRD - new shareholder of Center-invest In June 2004 European Bank for Reconstruction and Development extended its partnership with Center-invest by acquiring 25% of the voting shares for $8.15 million and approving a 5 year $5 million loan targeted to SMEs. That moving reinforces cooperation between the two institutions initiated in 2002 when EBRD launched its TFP program and granted a $5 million loan, which was extended to $8 million in 2003.