Source Pravda.Ru

Russia's Vneshtorgbank receives $240 mln loan from Western banking community

Russia's Vneshtorgbank, or the foreign trade bank, has signed an agreement with the Western banking community on receiving a $240-million loan.

The syndicated loan, i.e. a loan provided by two or more lending institutions, is to be granted by 32 banks from 17 countries, including such giants as CityBank and Deutsche Bank AG.

The fact that the deal was stricken proves that the western banking community is growing more confident in Russia's banking system and economy at large, Vneshtorgbank President Andrei Kostin said in Moscow on Thursday, following the signing ceremony.

Originally, the loan was to total $100 million. However, with more banks having joined in, the sum went up to $240 million.

$128 million of the sum have to be repaid in a year, the remaining $112 million in 18 months.

Vneshtorgbank will use the money to boost funding of its Russian customers' trade transactions, said Mr Kostin.

Among the banks that contributed to the loan are banks of Germany, the US, Japan, Austria, the Netherlands, France, Greece, Israel, Poland, Turkey, Czechia and Italy.

© &to=http://www.rian.ru' target=_blank>RIAN

Comments
Ukraine dreams of what it can do to Crimea after winning war with Russia
Who loses and wins most from Caspian Sea division
Who loses and wins most from Caspian Sea division
Ukraine dreams of what it can do to Crimea after winning war with Russia
Ukraine dreams of what it can do to Crimea after winning war with Russia
Who loses and wins most from Caspian Sea division
Pilot shares his impressions after flying Su-57 fifth-generation fighter
Trump's solar wall and barefaced lies
US-Russian confrontation: War is peace, freedom is slavery
Why Russia continues investing in US public debt
Ukraine and PMC Blackwater to poison Donbass with radioactive waste
Ukraine dreams of what it can do to Crimea after winning war with Russia
Ukraine and PMC Blackwater to poison Donbass with radioactive waste
Ukraine dreams of what it can do to Crimea after winning war with Russia
Turkey desperately tries to rescue its national currency as it falls to all-time lows
Who loses and wins most from Caspian Sea division
Ukraine dreams of what it can do to Crimea after winning war with Russia
Ukraine dreams of what it can do to Crimea after winning war with Russia
Turkey desperately tries to rescue its national currency as it falls to all-time lows
Russians tired of Putin's foreign policy
Ukraine dreams of what it can do to Crimea after winning war with Russia