The Russian Helicopters holding (part of the Rostec State Corporation) and Promsvyazbank (PSB) during the Army-2021 International Military-Technical Forum signed a loan agreement on the allocation of Progress AAK about 40 billion rubles to financially support the implementation of the contract under the state defense order concluded between the enterprise and the Ministry of Defense of the Russian Federation.

The loan agreement was concluded on favourable terms. The document was signed by Andrey Boginsky, Director General of the Russian Helicopters holding, and Petr Fradkov, Chairman of the PSB.

"The contract we signed with the Ministry of Defense of the Russian Federation presupposes suspensive financing conditions. In order for us to produce the Ka-52M helicopters stipulated by the contract now, together with Promsvyazbank, a scheme has been developed to provide AAK Progress with concessional financing," he noted Andrey Boginsky .

"Supporting strategic projects of the defense industry and state defense order is one of the priorities of PSB. The loan agreement signed with the Russian Helicopters holding today will guarantee the enterprise's uninterrupted fulfillment of the state defense order, and preferential terms for the provision of funds will allow Progress AAK to fulfill its obligations to the state customer as efficiently as possible," commented Petr Fradkov.