Vnesheconombank and United Aircraft Corporation sign a Credit Agreement

During the XII Petersburg International Economic Forum Vnesheconombank and JSC United Aircraft Corporation entered into a Credit Agreement worth 7.5 billion rubles for a period of 5 years to finance the project aimed at manufacturing An-148, Tu-204 and Il-96 civil aircraft.

The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and United Aircraft Corporation President and Chairman of Executive Board Alexey Fedorov. Under the Agreement Vnesheconombank is to act as a creditor of the program carried out by United Aircraft Corporation to significantly increase civil aircraft production.

Under the project, OJSC Voronezh Joint Stock Aircraft Building Company and CJSC Aviastar-SP aircraft manufacturing plants are to be modernized and reequipped and should start serial production of An-148, Tu-204 and Il-96 aircraft.

This Agreement is the first long-term credit agreement signed by United Aircraft Corporation to implement a large-scale investment project aimed at meeting the needs of the Russian market for a competitive aircraft fleet, closing the technological gap as well as increasing the level of scientific and technical developments and innovation activity by Russian companies.