OREANDA-NEWS. Vnesheconombank and the State Development Bank of China signed the agreement about granting of the demand line of credit at the rate of $500 million.

According to the agreement, the State Development Bank of China will open the demand line of credit with the limit of $500 million to Vnesheconombank.

The means will be directed to financing of bilateral and many-sided projects and export-oriented branches of the Russian economy, including the spheres of machine-building, aviation and others, as well as projects being implemented at participation of the governments and administrations of the regions of Russia within the frameworks of the Shanghai Organization of Cooperation.

According to the document, within the frameworks of this Agreement and also as a development of the three-sided agreement among Vnesheconombank, State Development Bank of China and the Administration of Chechen Republic, the parties agreed about financing of the project on establishment and commissioning of freezer equipment with capacity of 200 tons, which would be implemented on the territory of Chechen Republic.