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Headline: Russian déjà vu Source: Euromoney Date: October 2000 Author: Ben Aris The EBRD is coming under a barrage of fire for its lending policy in Russia. Over the last nine months the pace of lending has been picking up momentum. But the bank is catching flak for three big deals. The EBRD has already signed off on a $150 million loan to Russia’s biggest oil company, Lukoil, to fund an investment and expansion plan. And the bank is also in negotiations with the state-owned gas monopoly, Gazprom, which wants a $250-million loan, and a joint venture between the producer of the ubiquitous Lada car, Avtovaz, and General Motors, which is asking for $220 million. |
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