VTB has signed a RUB 10bn two-year credit agreement with the Roscosmos State Corporation. The funds will be used to finance the company’s current operations.
«VTB is one of the systematically important banks servicing the rocket and space industry. This will be a strategic collaboration with Roscosmos and the funds will advance the space industry towards achieving its key goals».
Valery Lukyanenko ,
Member, VTB Bank Management Board
Roscosmos Corporation was established in August 2015 to reform Russia’s rocket and space industry. It implements state policy in space activity, ensures its regulation and places contracts for the development, manufacturing and supply of space equipment and space infrastructure facilities. The corporation is also responsible for developing Russia’s international space cooperation and ensuring that the space industry achievements contributes to the country’s socioeconomic development.