Bank Saint Petersburg will use the money to advance local currency loans of up to three years to small and medium-size businesses in St Petersburg and the surrounding region.
According to EBRD, only privately-owned firms employing no more than 250 people and whose annual turnover does not exceed the equivalent of $66.5m will qualify for these sub-loans.
The EBRD advanced its first loan to Bank Saint Petersburg in 2006, a $30m three-year facility for on-lending to the small and medium-size business sector.
In 2008, the EBRD extended the relationship with a syndicated loan through which it raised $100m for the bank.
In 2009, the EBRD, as part of its anti-crisis response, provided Bank Saint Petersburg with a $75m subordinated loan to strengthen its capital base. The full amount of that loan is due to be repaid in 2019.
