The European Bank for Reconstruction and Development has awarded US$1.5m in investment to the TAKF confectionery plant in Tambov. TAKF is a subsidiary of well known Moscow confectioner Krasny Oktyabr . Some of the money was provided to TAKF as a long-term loan, while the remainder was used by EBRD to buy a new issue of 1.5 million shares in TAKF.