International Investment Bank provided the Russian State Transport Leasing Company (GTLK) with a new loan of up to EUR 40 million with a tenor of 7 years.

The borrower intents to allocate the proceeds for the implementation of international leasing transactions through its GTLK Global leasing platform. The loan is also aimed to promote the development of aviation and maritime transport infrastructure, as well as to expand the accessibility of transport operators to the services of the leader of the Russian leasing market.

IIB and GTLK have enjoyed a strong strategic partnership since 2016 having concluded 5 loan agreements totalling EUR 90 million. Their implementation provided an effective solution to such priority economic and social objectives of the Russian Federation as development of transport infrastructure, renewal of the fleet of freight, passenger and medical aviation and vehicles, and an increase of transport accessibility of remote regions of the country. In addition, a number of joint initiatives have a profound integration effect, corresponding to interests of several IIB member states.

This loan agreement became a new milestone in the current stage of the IIB's development. It allowed the Bank to bring its net loan portfolio level to EUR 1.2 billion more than a year ahead of a plan, which, according to the current Bucharest Strategy 2018-2022, was a target for the end of next year.

“This fact testifies the growing efficiency of the Bank and its increasing role in supporting economies of our member states.” said Georgy Potapov, Deputy Chairperson of the IIB Management Board, in charge of Lending and Investments. “It is symbolic that we crossed this mark with another joint initiative with GTLK, one of our long-standing and key clients on the Russian market. We intend to further increase the pace of development of our core business in the interests of the shareholders with their comprehensive practical support."

“We highly appreciate an achieved level of cooperation with International Investment Bank, - said Oleg Lebedinets, First Deputy General Director of GTLK. - The Bank has proved itself as a reliable and trusted financial partner in the implementation of tasks set by the Long-Term Development Program for GTLK in the field of modernization of the transport system and support of the domestic mechanical engineering industry. "