Overview

China Eximbank provides RMB 3 billion financing facility to VTB Bank for unspecified purposes

Commitments (Constant USD, 2023)$499,350,203

Commitment Year•2015Country 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: May 8, 2015

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

VTB Bank

Loan description

China Eximbank provides RMB 3 billion financing facility to VTB Bank for unspecified purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

On May 8, 2015, Russia's VTB Bank and China Eximbank signed an RMB 3 billion financing facility agreement for unspecified purposes. The borrowing terms of the facility are unknown. This agreement was one of many deals signed when President Xi Jinping met with President Vladimir Putin on May 8, 2015.

Staff comments

1. Morgan Lewis & Bockius advised on the transaction.