The European Bank for Reconstruction and Development (EBRD) has formed a joint venture with EEDF to buy non-performing retail loans in Russia. EEDF was set up by East Capital Explorer, East Capital Financials Fund and Intrum Justitia. The venture plans to invest around €65 million in the next three years, adds Reuters. The non-performing retail loans portfolio acquired by the venture will be serviced by Russian CMS companies.
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