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  Tuesday, December 6, 2022
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Vneshtorgbank is ready to grant $350-400 million for the construction of the Sheremetyevo-3 terminal
Vneshtorgbank is ready to grant $350-400 million for the construction of the Sheremetyevo-3 terminal, President-Chairman of the Vneshtorgbank Board Andrei Kostin said at a news conference Thursday. The news conference took place after the signing of the cooperation agreement between Vneshtorgbank and Sheremetyevo International Airport. "Both Vneshtorgbank and foreign banks, under our guarantee, can provide credit. Credit syndication is also possible. We will see which money will be cheaper," Mr. Kostin said. Presently, he continued, instituting a legal entity for the project is being worked on. According to Mr. Kostin, Vneshtorgbank is ready to become a shareholder in the project; its share could be anywhere from 25% to 49%. Mr. Kostin said that Aeroflot, Sheremetyevo International Airport and Vneshtorgbank were taking part in instituting the legal entity. A Western operator and also other Russian banks could be attracted to the project, Mr. Kostin said. The problem of instituting a legal entity could be solved in February, Mr. Kostin said. He also said that in accordance with the agreement signed on Thursday, Vneshtorgbank would supply Sheremetyevo Airport with a broad range of financial services, including a comprehensive banking service, the handling of leasing operations and financing the development programs. Vneshtorgbank intends to contribute to the international and internal accounts system's development and to the introduction of up-to-date financial control technologies with the aim of raising the airport activity efficiency. In accordance with the plan, signed within the framework of the achieved agreements, the infrastructure of Vneshtorgbank will also be developed on airport territory
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