VTB Bank has signed three loan agreements totalling RUB 2.827 billion with OJSC Research and Production Corporation Uralvagonzavod. The loans, which are guaranteed by the government, will mature in 2018. The funds will be used to finance the fulfilment of the corporation’s obligations under government contracts.
VTB has worked with Uralvagonzavod since 2008. To date, the bank’s credit limit for Uralvagonzavod is RUB 23.5 billion. The corporation’s loan portfolio with the bank exceeds RUB 14 billion.
“Uralvagonzavod is a leading producer of military and civilian products. VTB Bank’s financial assistance allows it to increase and modernise its production capacities and increase its marketing in Russia and abroad,” said Valery Lukyanenko, member of VTB Bank Management Board.