Following a decision of the company's shareholders, Dmitriy Kurdyukov, Vnesheconombank's First Deputy Chairman and Member of the Management Board, has become a member of the Board of Directors at PAO AVTOVAZ.
Vnesheconombank is a key financial partner of the car manufacturer. In 2012, VEB extended a RUB 60bn credit facility to AvtoVAZ to finance its development programme. The financing will be funnelled to the company's investment programmes, launch of new products, and upgrade of production assets. For example, VEB's financial support has been used to upgrade the LADA Izhevsk plant, which manufactures the company's new models, Vesta SW and Vesta SW Cross," said Dmitriy Kurdyukov.
PAO AVTOVAZ is the major manufacturer within the Renault-Nissan-Mitsubishi alliance. The company's plant in Tolyatti is one of the world's largest car manufacturing facilities, which offers four full-cycle car brands (LADA, Renault, Nissan, and Datsun) The Izhevsk plant of PAO AVTOVAZ produces cars under the LADA and Nissan brands.
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