VTB Finances AFI Development Group

Funds within the limit will support growth of the Group’s development activity and finance expenses on design and construction of one of AFI Development’s key projects, overground part of Moscow-City MIBC Central Core, which is a five-level shopping center with an area of 114 tsd sq. m. (GLA).

VTB Bank has already granted AFI Development a first loan of RUR 1.4 bln for the term of 12 months.

For reference:
AFI Development, founded in 2001, is a subsidiary of Africa Israel Investment Ltd., an international investment holding, founded in 1934, with more than 70 years of unique experience in development activity around the world, including Europe and the USA.
The portfolio of AFI Development includes 33 projects in residential and commercial real estate, as well as multifunctional complexes in 20 locations in Russia, the total area of premises amounting to 3.7 mln sq. m. The projects realized include offices, trade centers, hotels, multifunctional complexes and residential buildings. The company develops projects in the Russian cities of Moscow, St. Petersburg, Perm, Volgograd and Kislovodsk, as well as in a number of Ukrainian cities.
In May 2007 AFI Development launched its London Stock Exchange IPO, which raised USD 1.4 bln.

Latest News JSC RZhD and TransCreditBank endorse a package of initiatives intended to support the real sector of Russia's economy “UkrSibbank” to Extend Working Hours of Its Outlets in Lviv VTB participates in developing measures to support the real economy CCO N1 Nab. Chelny has moved on Moskovskiy pr., 159(30/18). Alfa-Bank’s Clients Donated Million Rubles to the Life-Line Fund VTB Bank Supervisory Board approves Management Action Plan VTB provides PMC with loans for RUR 7 bln Vnesheconombank Disburses Second Tranche of Subordinated Loan Facility worth 100 Billion Rubles to OJSC Bank VTB The Bank of Russia Registered TransCreditBank's Branch in Kazan Memorandum of Understanding is signed between VTB and Venezuelan bank Bancoex

VTB and Japanese Group SMBCE sign a Cooperation Agreement The Agreement is aimed at further strengthening partnership relations between VTB Group and Japanese Group SMBC and enhancing interaction along the whole range of banking services, including settlement in Russian Rubles, financing international trade operations, investment project support, treasury operations and operations in international capital markets. [Read...]