OREANDA-NEWS. October 16, 2014. VTB and Export-Import Bank of China signed a cooperation agreement during the 19th regular Heads of Government meeting between Russia and China.

The agreement was signed by Andrey Kostin, President and Chairman of VTB Bank Management Board, and Yuan Xingyong, Vice President of Export-Import Bank of China, at a ceremony attended by Russian Prime Minister Dmitry Medvedev and Chinese Premier Li Keqiang.

Under the agreement, the parties plan to work together to support business ties between Russian and Chinese companies. Among other terms, VTB will be granted a credit line for the equivalent of up to USD 2 billion in RMB or RUB to finance imports of a wide range of products from China, from foodstuffs to hi-tech equipment.