OREANDA-NEWS. June 16, 2009. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the China State Development Bank (CSDB) entered into a Framework Credit Agreement.

On behalf of the Russian side the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev, on behalf of the Chinese side – by CSDB Board Chairman Chang Yuan.

Under the Agreement, the CSDB is to open a credit line for a total amount of 1 billion US dollars. This Agreement aims to promote cooperation between the two parties in raising funds to finance investment projects to be implemented on the territory of the Russian Federation in partnership with Chinese companies.