Source Pravda.Ru

IFC allows credit to Volga-Dnieper Russian airline

The crediting is for the first time over whole history of Russia’s civil aviation

Russia’s Volga-Dnieper airline specializing in heavy load transportation concluded an agreement with the International Finance Corporation (IFC), member of the World Bank structure. According to the agreement concluded in Moscow, the IFC is to allow a $29.9 million credit to the Volga-Dnieper airline for ten years.

The airline needs the credit to complete construction of an An-124-100 Ruslan plane at the Ulyanovsk enterprise Aviastar. The new airplane is to become the tenth in the Volga-Dnieper fleet. The IFC will provide $16.9 million of the credit; the remaining $13 million will be appropriated by the FMO company.

Deputy Director General for strategic management of Volga-Dnieper Sergey Shklyanik says that it is for the first time in the whole history of the Russian civil aviation that the IFC has agreed to finance the expansion of a Russian airline fleet. “The very fact of the credit allowed for a Russian airline signifies positive political changes that are at the same time favorable for foreign investment in Russian industry,” Sergey Shklyanik says.

The IFC is world’s largest source of financing for the private sector in developing countries and countries with transit economies. The corporation can mobilize capital on the international financial markets and organize technical assistance and consultations for governments and private enterprises.

Sergey Nikolayev PRAVDA.Ru

Translated by Maria Gousseva

Read the original in Russian: http://pravda.ru/main/2002/07/15/44191.html

Related links:

Representatives of the North Korean administration issued a statement saying that the United States and its allies have lost the "political and military confrontation" to the DPRK

North Korea declares victory over USA

On December 10, 1948 the Universal Declaration of Human Rights was adopted by the United Nations General Assembly, its thirty articles enshrining basic and fundamental rights guaranteeing dignity of the human person and equality for all, regardless of race, color, creed or gender. A pipe dream?

Human Rights Day: Let us hang our heads in shame
Comments
Why did Donald Trump recognise Jerusalem as the capital of Israel?
Russian athletes announce their decision about 2018 Winter Olympic Games
Putin makes first comment on Trump's Jerusalem decision
Putin makes first comment on Trump's Jerusalem decision
Russian politician says Donald Trump extremely dangerous for Russia
Russia on the eve of another Crimea referendum
Some ideas about North Korea
Russia on the eve of another Crimea referendum
Russia on the eve of another Crimea referendum
Russia on the eve of another Crimea referendum
Russia on the eve of another Crimea referendum
Russian athletes announce their decision about 2018 Winter Olympic Games
Russia works on MiG-41 doomsday fighter jet
The need for a Global Political Agenda 2018
New Russian weapons shocked USA three times
USA looking for reason to see nuclear weapons in action
Russia works on MiG-41 doomsday fighter jet
Putin makes first comment on Trump's Jerusalem decision
Putin makes first comment on Trump's Jerusalem decision
Ukrainian politicians and businessmen aim to visit Crimea
The Myth of the Gene: Genetics, Epigenetics and the Organism-Environment Loop