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Minsk takes about $13 million loan from Russia’s VEB to buy metro cars

June 16, 2014, 12:20 UTC+3 MINSK
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MINSK, June 16. /ITAR-TASS/. Belarusbank has taken a $12.5 million loan from Russian state development bank Vnesheconombank (VEB) to finance the purchase of 15 railcars from Russian metro car maker Metrowagonmash, Belarusbank said in a statement June 12.

“We have carried out the project without the Russian Agency for Export Credit and Investment Insurance, which helped reduce the price of borrowed funds significantly. This fact demonstrates a high degree of trust by the Russian financial community to Belarusbank,” the bank said.

VEB said that the bank will support Minsk in the acquisition of Sukhoi SuperJet planes and in exports of locally produced agricultural machinery in case the equipment contains at least 60% components made in Russia, according to the statement.

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