Vneshtorgbank to finance equipment supplies to AvtoVAZ

Vneshtorgbank and the Switzerland-based bank UBS AG sighed a six-year loan agreement for over EUR14.3m (22.6m Swiss francs), the Vneshtorgbank's press service reported. These resources will be allocated for financing the supplies of Swiss equipment to the AvtoVAZ carmaker.

It is worth mentioning that on March 11, 2003, Vneshtorgbank and UBS signed a framework loan agreement for 250 million Swiss francs, aimed at the development of bilateral interbank relations, an increase in the trade volume between Russia and Switzerland, and expansion of long-term operations (five years and more) for financing the import of Swiss industrial goods and services to Russia.

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