OREANDA-NEWS. June 08, 2009. In the course of the 13th Petersburg International Economic Forum, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and OJSC Krasnaya Polyana entered into an Agreement on Extending a Credit Line worth 9.2 billion rubles for a Period of 12.5 Years.

On behalf of Vnesheconombank the Agreement was signed by Management Board Member – Vnesheconombank Deputy Chairman Anatoly Ballo, on behalf of OJSC Krasnaya Polyana – by its General Director Daniyal Sheikhov.

The funds are intended for financing the construction of the following Olympic facilities: an Olympic media village for 2 150 rooms, a ski-jump complex K-25, K-95 with a capacity of 15 thousand spectators.

These projects are being implemented under the Program of Building Olympic Facilities and Developing the City of Sochi as an Alpine Ski Climatic Resort approved by the Resolution of the Government of the Russian Federation.

The Agreement was made in accordance with general approaches to financing Olympic facilities approved by Vnesheconombank’s Supervisory Board. The Bank for Development was charged with becoming one of the main creditors of the construction of Olympic facilities.

At present, Vnesheconombank is considering 8 projects aimed at building Olympic facilities in the total amount of more than 120 billion rubles.