On 3rd September 2015 VTB Bank and the China Development Bank signed a CNY 12 billion agreement for financing
The agreement was signed during the visit of the Russian delegation on 2–3 September 2015 headed by the President Vladimir Putin to Beijing to celebrate the 70th Anniversary of Victory of Chinese People’s in World War II.
Under the agreement VTB and China Development Bank are to support and promote the trade flows between Russia and China by providing financing to clients that are engaged in import and export trade operations with Chinese counterparties.
This agreement represents further expansion of partnership between VTB and the Chinese bank that was agreed upon in May of this year with the aim of increasing national currency settlements between the two countries. The agreement will assist VTB’s