Summary of Proposed Investment
Project Number
21592
Company Name
ZAO DeltaLeasing
Date SPI Disclosed
Oct 22, 2003
Country
Russian Federation
Industry
Financial Markets
Projected Board Date
Dec 4, 2003
Status
Completed
Sector
Leasing Services
Department
Global Industry, Financial Markets
Environmental Category
FI-1 - Significant
Previous Events
Approved : Feb 11, 2004
Signed : Apr 6, 2004
Invested : Jun 24, 2004
Project Description
DeltaLease-Far East (DLFE) is a leasing company based in Vladivostok with offices in Yuzhno-Sakhalinsk (Sakhalin Island), Khabarovsk, and Novosibirsk. The company has been in operation since 2000 and is entirely owned by the U.S. Russia Investment Fund (TUSRIF).
DLFE is involved exclusively in leasing operations with a specific focus on providing financing leases to Small and Medium Enterprises (SMEs). Since its inception and through August 2003 the company has approved over $9.4 million in financial leases on its own account, or a total of $12.0 million in the total value of leased goods. As of June 2003, DLFE had assets of $6.3 million.
The purpose of the project is to provide additional funding to DLFE to enable the company to match the strong demand for leasing products in the SME sector. The proposed project would be one of IFC’s first financial markets investments with a company working specifically in Siberia and the Far East, a considerably more difficult and less advanced market than the European part of Russia.
DLFE is involved exclusively in leasing operations with a specific focus on providing financing leases to Small and Medium Enterprises (SMEs). Since its inception and through August 2003 the company has approved over $9.4 million in financial leases on its own account, or a total of $12.0 million in the total value of leased goods. As of June 2003, DLFE had assets of $6.3 million.
The purpose of the project is to provide additional funding to DLFE to enable the company to match the strong demand for leasing products in the SME sector. The proposed project would be one of IFC’s first financial markets investments with a company working specifically in Siberia and the Far East, a considerably more difficult and less advanced market than the European part of Russia.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Gregory Sundstrom, Chairman of the Board,
Delta Lease Far East
Okeansky Prospekt 12/13
690000 Vladivostok, Russia
Web: www.dlfe.ru
Delta Lease Far East
Okeansky Prospekt 12/13
690000 Vladivostok, Russia
Web: www.dlfe.ru