Rosbank to increase credits to precious metal producers by 80%

Rosbank is planning to increase its credits to companies producing precious metals by 80 percent to $45m, the bank's press service reported. This year Rosbank provided around $25m in credits to precious metal producers. The bank's press service pointed out this year Rosbank had started to cooperate with companies having long-term precious metal production programs. In cooperation with Caterpillar and Promtraktor Rosbank is currently implementing a program of technical update of deposit-using companies. In cooperation with BaikalONEKSIM the bank is participating in a program aimed at financing the projects of exploring ore gold deposits in the Irkutsk region. Additionally, this year Rosbank will continue to cooperate with leading Russian companies producing precious metals in the Magadan, Irkutsk, Amur, Khabarovsk, Krasnoyarsk and Chita regions of Russia as well as the republics of Buryatia and Sakha (Yakutia) and in Chukotka.