Overview

China Eximbank provides $500 million buyer's credit to VTB Bank to finance imports by Russian companies from China (Linked to Record ID#43035)

Commitments (Constant USD, 2023)$830,782,267

Commitment Year•2007Country of Activity•RussiaDirect Recipient Country of Incorporation•RussiaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Mar 26, 2007

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

State-owned Banks

VTB Bank

Implementing agencies

State-owned Banks

Vnesheconombank (VEB Bank or VEB.RF)

Loan description

China Eximbank provides $500 million buyer's credit to VTB Bank to to finance imports by Russian companies from China

Interest type•Unknown

Narrative

Full Description

Project narrative

On March 26, 2007 China Eximbank and JSC VTB Bank signed a $500 million master loan (export buyer's credit) agreement to finance imports by Russian companies from China (as captured via Record ID#66457). Then, on March 25, 2010, an additional agreement was signed to upsize the master loan agreement by $300 million (as captured via Record ID#43035).