OREANDA-NEWS. At its meeting on July 16. 2015,VEB's Supervisory Board discussed terms of funding a project on the comprehensive development of the Bystrinsk iron-oxide-copper-gold ore depositon the Zabaikalye Territory providing for developing open-pits, constructing an ore mining and processing integrated plant and required transport and engineering facilities.

This project is of national significance and it is included in the strategiesfor socio-economic development of the Far East, the Baikal and the Siberia regions and for development of non-ferrous metals industry. Due to the fact that consumers of products will be the largest Chinese industrial and trade companies, VEB explored the issue of tied lending with Chinese financing institutions.

The project's total value is 1.378 billion dollars. VEB is to fund the project in yuans in the amount equivalent to 874 million dollars (63% of the project's value).