Agricultural Bank of China provides $500 million loan to VTB Bank for unspecified purposes
Commitment amount
$ 751005024.1373961
Adjusted commitment amount
$ 751005024.14
Constant 2021 USD
Summary
Funding agency [Type]
Agricultural Bank of China (ABC) [State-owned Commercial Bank]
Recipient
Russia
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
On October 13, 2009, the Chinese Government and the Russian Federation signed several agreements worth $3.5 billion during Russian Prime Minister Vladimir Putin’s three-day visit to Beijing. One of them was a $500 million loan agreement between Agricultural Bank of China and VTB Bank. The purpose and borrowing terms of the loan are unknown.
Additional details
1. VTB Bank is a Russian majority state-owned bank headquartered in various federal districts of Russia; its legal address is registered in St. Petersburg; as of 2022 company's capital stock was mostly owned by three Russian agencies.
Number of official sources
1
Number of total sources
6
Details
Cofinanced
No
Direct receiving agencies [Type]
VTB Bank [State-owned Bank]
Implementing agencies [Type]
VTB Bank [State-owned Bank]