MOSCOW, April 25 Russia's central bank said on
Friday it was introducing a three-year refinancing tool for
banks to finance investment projects.
"In order to enhance the ability of banks to provide
long-term credit to finance investment projects and increase
their accessibility for the economy the Bank of Russia has
decided to implement a new mechanism for refinancing credit
institutions," the bank said in a statement.
The three-year loans will come with a 6.5 percent interest,
the central bank said, and would apply to projects that qualify
for state guarantees. To begin with they will be accessible for
large banks with capital above 50 billion roubles ($1.4
(Reporting by Lidia Kelly and Jason Bush)