China Encourages The Russian Exporters By The Loans
State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and the State Development Bank of China (China Development Bank) entered into a loan agreement worth $ 150 million, reported the press service of the Russian company. Experts expect that in the next few years mutual lending between the countries will be $ 2-2,5 billion.
From the direction of Vnesheconombank the Agreement signed Chairman Vladimir Dmitriev, from the direction of the State Development Bank of China is chairman Chen Yuan.
Funds marked for a period of 1 year and will focus on the implementation of export projects of Russian enterprises.
The signing and subsequent implementation of the Agreement will contribute to further strengthening economic ties between the Russian Federation and the People’s Republic of China, noted in the press service VEB.
Concluded agreement is important for economic relations between countries, because it is one of the first of its kind, and because it was signed between the State Banks of our countries, a leading expert Dmitry Baranov comments on the “Finam Management”. According to him, in the long term, this agreement will lead to greater interaction of financial institutions in both countries.Russians need China visa to visit China.
Baranov expects that in the next few years, volume of mutual lending between the countries will be $ 2-2,5 billion. The expert supposes that the funds are likely to be aimed at supporting domestic enterprises and to implement their projects in China. “Even if these funds would be insufficient, it is important this first step done, which will certainly be followed by other similar contracts and the volume of an allocation of funds will increase,” – the analyst is confident. These funds may be provided by the Russian community of metallurgical, oil, chemical and engineering companies. Among them will be not only the leaders of the domestic economy, but also medium-sized business enterprises in the supply of unique products that may be interested in China, Baranov said.