Russian Space Center Receives 40-million-dollar Loan

Russia's Foreign Trade Bank, one of the largest in the country, on Wednesday signed an agreement for long-term cooperation with the Moscow-based Khrunichev State Space Center, the leading spacecraft producer in Russia. In keeping with the agreement, the center has been given a 40-million-dollar loan for two years. The money will be used to develop new booster rockets and satellites. According to space center director Alexander Medvedev, the agreement confirms that "the situation in Russia is changing, and banks are ready to give credits to science and industries."