VTB Bank has issued a RUB 3.8 billion surety bond to Russian aerospace industry leader Information Satellite Systems to guarantee the fulfilment of the company's state contract signed as part of the federal targeted programme to develop the GLONASS navigation system's space component for 2012-2020.
“VTB Bank has been consistently participating in implementing government aerospace industry programmes,” said Valery Lukyanenk
o, Member of VTB Bank Management Board. “We are actively cooperating with ISS-Reshetnev, a leading Russian aerospace company.”
Information Satellite Systems-Reshetnev Company (ISS-Reshetnev) is a leader in Russia’s aerospace industry. It possesses the technology to perform the complete satellite manufacturing cycle, from design to in-orbit control and support. It has been cooperating with VTB since 2005.