Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

VTB Bank to Get RUR 100BN from Govt
30.12.2014 14:50
VTB Bank to Get RUR 100BN from Govt
Photo Credit:

VTB Bank is expected to get 100 billion roubles from the National Wealth Fund to help it overcome the Western-imposed sanctions that limited access to long-term capital.

      According to the official website, the government will place a 30-year deposit with the second-largest national lender.

      The press release was posted Tuesday.

      Earlier, Russia-IC reported that VTB inked a deal to finance a vital transport link between Moscow and St. Petersburg.

      According to the statement, Two Capitals Highway, a VTB Capital subsidiary, and Vnesheconombank (VEB) have signed a cooperation agreement to finance, build and operate two sections of the M-11 Moscow-St Petersburg toll motorway.

      The agreement applies to two stretches, 543 km-646 km and 646 km-684 km.

      “The memorandum outlines VEB’s intention to participate in financing the project alongside VTB on the agreed terms of the concession agreement for the 140-km section of the M-11 previously signed between State Company Russian Highways (Avtodor) and Two Capitals Highway,” reads the press release.

      “VTB Bank is financing the project, in which it is also a shareholder, while VTB Capital is acting as financial consultant,” the statement goes on to say.

      Capital investment in the project will total about RUB 76.8 billion and will be financed through a state grant of RUB 57.6 billion, as well as external financing and funds provided by the shareholders. Construction is slated to begin in early 2015 and is scheduled for completion in 2018.


Author: Mikhail Vesely

Tags: VTB Group VTB Bank Russian banks   

Next Previous

You might also find interesting:

"Azbuka Vkusa" will Start Selling its Products through Ozon
American Marketplace iHerb Opens a Division in Russia
By the End of 2020, the Fall of the Russian IT Segment may Exceed 30%
Every Fifth Russian Travel Agency May not Survive the Coronavirus Pandemic
The Amount of Investment in Fixed Assets in Moscow has Grown by 19.5%

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

search on the map
Festivals in Moscow  Russian Museums   Irbit Fair   Samara Oblast  travel to Russia  robotics in Russia  Art Exhibitions  Ukraine  Russian business  Exhibitions in Moscow  corruption  Museon  telecommunications  St. Petersburg  FC Zenith  Historical Exhibitions  Nikolay Leskov  Russian Film Directors  Russian Cinema  accident  Russian regions  Saint Petersburg  Fyodor Khitruk  French Chanson  tourist destinations  double-decker bus   Russian mobile companies  the Crimea  Russian philosophers  Transportation  Bike Rental Stations  Orbit  active holidays in Russia  Arkhangelsk  Russian oil and gas industry   New Year celebrations  Garri Bardin  Russian hotels  satellite  Bella Akhmadulina  Russian gastronomic festivals  Russian Winter 2013  Russian tourism  Pollution  Alexey Navalny  Sochi Olympics  Moscow  Rostov-on-Don  VKontakte  Mercedes-Benz Fashion Week Russia 

Travel Blogs
Top Traveling Sites