OREANDA-NEWS. January 26, 2015. VTB Bank has signed two loan agreements with Academician Reshetnev Information Satellite Systems worth a total of RUB 2.5 billion and with a maturity of 14 months. The funds will be used to finance the production of GLONASS-K satellites.

GLONASS-K is a next-generation navigation satellite designed by Reshetnev Information Satellite Systems for the GLONASS radio-based satellite navigation system. It is a partial-pressure system with a longer lifespan, smaller weight and other improvements.

Financing complex and knowledge-based companies is one of VTB Bank’s strategic priorities. We have worked closely with ISS for a number of years now based on customised solutions in the interests of the company.
Valery Lukyanenko, member of VTB Bank Management Board