NOMOS-BANK provides USD 400 million in project finance in 2007

NOMOS-BANK provided USD 403.5 million to Russian enterprises in project finance during 2007, a 103% increase in comparison with the preceding year. As of 1 January 2008, the Bank’s total project finance loan portfolio stood at USD 573.0 million, up by 106% as compared with 1 January 2007.

Speaking of the major drivers behind high project finance growth rates in 2007, Sergey Bessonov, Director of NOMOS-BANK’s Department for Project and Structured Finance, cited attractive finance terms, as well as flexible approach and fast consideration of applications.

As regards Russian project finance market in general, its key trends in 2007 included a rising demand for project finance on the part of medium enterprises, and an active interest in that service in the regions.

Project finance was highly popular in such industries and sectors of the Russian economy as construction materials industry, development, electric energy, food industry, extractive industry etc.

In the opinion of Sergey Bessonov, Russia’s project finance market will continue its dynamic development in 2008 with the focus gradually shifting from Moscow to the regions.