world news - 28.12.2004
Russia: leased trucks ready to roll
The The European Bank for Reconstruction and Development EBRD is helping to put more high-quality western vehicles on Russia’s roads – and boost the country’s fledgling transport leasing market – through a €20 million framework facility which will finance leases of buses, trucks and vans manufactured by the DaimlerChrysler group to its Russian customers.
The framework will allow OOO DaimlerChrysler Services Leasing Avtomobili (DCSLA), a Russian leasing subsidiary of DaimlerChrysler AG, one of the largest automotive companies in the world, to expand its operations in Russia.
This project is based on risk sharing between DCSLA, the Bank and ZAO Raiffeisenbank Austria (RBA), incorporated in Russia. The Bank and RBA will each assume 30 per cent of the risk of each individual lease (which may last up to five years) or up to €6 million altogether.
Leasing instruments have high potential to play an important role in the growth of small and medium-size businesses in Russia, providing cheaper and more flexible access to more sophisticated equipment manufactured to international standards. In developed economies, smaller firms make up to half of their investment in large assets through leasing. But in Russia, leasing, as yet, accounts for only 4.3 per cent of such investments. By encouraging more western companies to be directly involved in leasing on Russian markets, competition will be encouraged and consumers given broader choice.
IHB Internationale Holzboerse GmbH
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