Bank News

Russian Bank for Development has entered into agreement with HSBC Bank plc, London

25 Июля 2006

Russian Bank for Development (RBD) has entered into Agreement with HSBC Bank plc, London on principal terms of financing supply of import equipment with involvement of Export Credit Agencies (ЕСА) from member-states of the Organization of Economic Cooperation and Development (OECD). Signing of the given Agreement will allow RBD to attract tied credits for innovation projects in different sectors of the national economy.

The Agreement shall be valid within three years with a possibility for further prolongation. Each project will be implemented based on a specific Facility Letter, determining the amount, interest rate and maturity.

The first project within the framework of the Agreement is expected to be a facility with involvement of Export Development Canada (EDC) for purchase by NPO Saturn (Rybinsk) a Test Bed for RRJ engines from Canadian company «MDS Aero Support Corporation».

OAO «Russian Bank for Development»
Public Relations Department
Tel/fax: (495) 783-79-16

OAO «Russian Bank for Development» (RBD) was established in 1999 pursuant to Decree of the Government of the Russian Federation No. 391-r dated March 10, 1999 and Federal Law "On the Federal Budget for 1999" as a national development bank. The Bank’s core business is to provide long-term loan based funding to projects in priority sectors of the national economy. It is 100% owned by the Government of the Russian Federation through the Russian Federal Property Fund. The Bank’s charter capital is RUR 4.66 billion. RBD was assigned the highest for the Russian banks international credit ratings - Standard & Poor's (BВВ-, outlook stable) and Moody's Investors Service (Baa2, outlook stable).

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