Vnesheconombank to Extend Credit to the Indonesian Finance Ministry

State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Republic of Indonesia represented by the Indonesian Finance Ministry entered into a Credit Agreement.

Under the Agreement Vnesheconombank is to extend credit facilities for a total amount of 399.5 million US dollars for a period of up to 7 years to the Indonesian Finance Ministry.

These credit facilities are to be used to fund the supply of Russian aircraft to the Republic of Indonesia under the export contract between OJSC Rosoboronexport and the Indonesian Defense Ministry.

The said Credit Agreement is the second transaction to have been made between Vnesheconombank and the Indonesian Finance Ministry for the past two years.

The Agreement signed testifies to the progressive improvement in relations between the two states and is fully in line with the tasks set at the eighth meeting of the Russian-Indonesian Joint Commission on Trade-Economic and Technical Cooperation. Vnesheconombank’s participation in funding the project helps to promote Russian high-technology industrial products exports to the countries of South-East Asia

Press Office of Vnesheconombank
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

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