CDB provides RMB 12 billion credit facility to VTB Bank to finance Sino-Russian trade operations
Commitment amount
$ 2142647296.8868885
Adjusted commitment amount
$ 2142647296.89
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy 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 September 3, 2015, China Development Bank (CDB) and VTB Bank signed a RMB 12 billion loan agreement to finance Russian-Chinese trade operations. Under the agreement, the banks agree to finance the Sino-Russian trade operations of their clients. Earlier that year, in May 2015, CDB and VTB Bank agreed to develop a partnership to support joint projects and Russia-China trade. In the same month, VTB signed a similar agreement with China Eximbank.
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
3
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
VTB Bank [State-owned Bank]
Implementing agencies [Type]
VTB Bank [State-owned Bank]