The EBRD has signed up to a risk-sharing partnership with ZAO Raiffeisenbank (RBRU) under which Russian cities and their municipal utility companies will be offered long-term local currency loans ranging from R20 million to R300 million ($660,000 to $9.9 million) to fund badly needed municipal infrastructure renewal. Loans would mostly be offered to small and medium size municipalities of less than 400,000 people and could be attracted either directly by municipalities or by local utility companies-for instance, vodokanals (water utilities), district heating companies and transport operators, whether private or municipally owned.
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