By Ivan Anderzhanov
The European Bank for Reconstruction and Development and the World Bank's International Finance Corporation are launching a €300m fund to help structure medium-size companies in eastern Europe and central Asia.
The EBRD said it will contribute €60m to the ADM CEECAT Recovery Fund, with the IFC adding €35m. They will be joined by the Netherlands Development Finance Company, which will contribute €15 million.
The €300 million fund will initially target companies in Kazakhstan, Romania, Turkey, and Ukraine with loans and equity investments of between €10-30 million.
Robert Appleby, one of the founding partners of ADM Capital said, “The fallout of the recent financial crisis in this region has created an environment where ADM Capital’s style of investing can flourish. Many of the issues faced by companies operating in the CEECAT region have strong parallels with issues faced by companies in Asia post the 1998 crisis.”
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