Russian Bank Loans Irkut Corp 20 Million Euros To Finance Export Contract

  • Our Bureau
  • 11:19 AM, February 6, 2017
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Russian Bank Loans Irkut Corp 20 Million Euros To Finance Export Contract
Russian Banks Loan Irkut Corp 20 Million Euros To Finance Export Contract

Novikombank, the base bank for the Russian industry, has granted a  20 million euro worth loan to the Irkut Corp to finance the execution of an export contract for the delivery of new aviation equipment.

This agreement has become the first step towards promising cooperation between the parties, Rostec announced during January last week.

“Financing of the Irkut Corporation's aircraft proves that our cooperation in developing the export potential of the Russian aviation cluster in general is becoming closer," said Elena Georgieva, Chairperson of the Management Board of Novikombank.

The President of PJSC Irkut Corporation Oleg Demchenko emphasizes that complete support from government agencies of the Russian Federation, Rosoboronexport and Russian commercial banks including Novikombank is an important factor in the promotion of Russian high-tech products on the global market.

Novikombank has worked in the real economy for over 20 years and invests in modernization and innovative development of the national industry.

Apart from giving guarantees and loans to the members of the United Aircraft Corporation, Novikombank also finances various production programs.

Thus, in November 2016, a credit line was opened for the Russian Aircraft Corporation "MiG" to provide for re-equipment of the enterprise.

Besides, Novikombank actively implements payroll projects for employees of several defence companies and gives them consumer loans.

Novikombank's customers include well-known companies such as the United Aircraft Corporation, PJSC Tupolev, OJSC Ilyushin Aviation Complex, JSC Sukhoi Civil Aircraft, etc.

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