Project ID: 67150
BoC provides loan to Gazprombank to support foreign trade transactions
Summary
Funding agency [Type]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
Russia
Sector
Trade policies and regulations (Code: 330)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Geography
Description
In July-September 2010, Bank of China signed an agreement with Gazprombank to provide finance on a short-term basis (up to one year) for funding foreign trade transactions in the form of L/C post financing. The deal will help expand the opportunities of the Russian Bank and provide extra benefits for the clients participating in the trade operations with China. Letters of credit will be issued to clients that were involved in the bilateral deal.
Number of official sources
1
Number of total sources
3
Details
Cofinanced
No
Direct receiving agencies [Type]
Gazprombank [State-owned Bank]
Implementing agencies [Type]
Gazprombank [State-owned Bank]