Vnesheconombank and OJSC United Aircraft Building Corporation Enter into Agreement

In the course of the 22^nd Petersburg International Economic Forum, Vnesheconombank and OJSC United Aircraft Building Corporation entered into a Credit Agreement worth 7.5 billion rubles for a period of 5 years to finance the project aimed at manufacturing An-148, Tu-204 and Il-96 civil aircraft. The credit is to be extended under the credit-documentary limit in the amount of 24.69 billion rubles approved by the Supervisory Board in this February.

The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and United Aircraft Building Corporation President, Management Board Director Alexei Fedorov.

Under the Agreement Vnesheconombank is to act as a creditor of the program carried out by OJSC United Aircraft Building Corporation and designed to significantly increase the production of civil aircraft.

Under the project, aviation factories OJSC Voronezh Joint Stock Aircraft Building Company and CJSC Aviastar-SP are planned to be modernized and reequipped and are to transfer from single-item production under individual orders to batch production of An-148, Tu-204 and Il-96 aircraft.

This Agreement is the first long-term credit agreement concluded by OJSC United Aircraft Building Corporation to implement a large-scale investment project aimed at meeting the needs of the Russian market for a competitive park of aircraft, closing the technological gap as well as raising the level of scientific and technical developments and innovation activity by Russian companies.

Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 608-46-93, Fax: +7 9495) 975-21-34
E-mail: press@veb.ru

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