Source Pravda.Ru

Vneshtorgbank to get $240m credit on November 28

The ceremony of signing an agreement about providing a $240m syndicated credit to Vneshtorgbank by a group of foreign banks will take place on November 28, 2002, Vneshtorgbank's press service reported. This syndicated credit is the largest syndicated credit in the history of the Russian banking system. The syndication was organized by leading financial institutions of the world: Citibank NA and Deutsche Bank AG. Around 32 banks will participate in the syndication. The credit will be provided for two years and is expected to be used for giving credits for the real sector of the Russian economy. President and Chairman of Vneshtorgbank Andrey Kostin as well as top executives of Citibank NA, Deutsche Bank AG and other participants of the syndicate will be present at the ceremony.

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