EDB claims a $ 100 million loan refund from Ivolga
06 September 2018
The Eurasian Development Bank (EDB) will seek a full refund of the funds previously allocated to the Ivolga agricultural holding, which has assets in Kazakhstan and Russia. The Kustanai City Court decided in May 2017 to fully satisfy the EDB's claims against the agricultural holding company "Ivolga" and its main beneficiary, Vasiliy Rosinov. Later, the holding company appealed to the court to postpone the decision. However, the court did not grant the request. The previous chairman of the EDB, Dmitry Pankin, noted earlier that the loan to the holding company is the most problematic loan of the EDB. The sum of the loan amounts to $ 60 million plus $ 40 million of interest and penalties.