The management of the Ural-Siberian Bank (Uralsib) have announced that they intend to attract a new USD 20-million syndicated loan, which will be arranged by London-based Standard Bank and the Moscow National Bank. According to Uralsib's public relations department, the loan is predicted to have an annual interest rate of 3.5%. The loan is planned to be for 364 days, with an option to extend it. Uralsib has also signed a credit agreement with the AKA Ausfuhrkredit-Gesellschaft consortium of German banks worth EUR 3.149 million, which is valid for 5 years. The loan will be guaranteed by German export credit agency Hermes for supplying equipment produced by Dorst Maschinen- und Anlagenbau & Co. to the SOK Group, a group of companies operating in the automobile industry. The loan will be refinanced by Deutsche Bank, with which Uralsib has a long-standing partnership.
At the end of 2001 Uralsib received an unsecured syndicated loan worth USD 20 million from a number of European banks. The loan was also for a period of 364 days. This was the first unsecured loan given to a Russian bank after the crisis of 1998. In August 2002 the bank attracted another USD 33 million from a syndicate of European banks. According to Uralsib's PR department, the funds were used to finance promising projects by the bank's clients.
US President Joe Biden and Iraqi Prime Minister Mustafa Al Qadimi signed an agreement on July 26 to formally end the USA's military presence in the country by the end of the year