EBRD, EIB and NIB fund Russian mobile operator

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02 July 2009

Russia’s MTS secures EBRD, NIB and EIB funding for its network expansion.

A total of Eu413 million international financial institution funding has been arranged for Russia’s Mobile Telesystems (MTS) by the European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB) and the Nordic Investment Bank (NIB).

The total comprises Eu218 million to be raised by the...

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Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.

No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.

23%

No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.

23%

Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.

46%