OREANDA-NEWS. December 25, 2013. Sviaz-Bank (Vnesheconombank Group) has approved a limit of 4.17 billion rubles in a loan to the State Transport Leasing Company (STLC OJSC).

Three nonrevolving credit lines will be opened to STLC OJSC within the framework of the approved limit for a period of seven years to enable the company to finance the costs of leasing deals it has closed with major sectoral freight carriers.

“The State Transport Leasing Company is one of the most vigorous participants of leasing market development in Russia today. We hope that its cooperation with Sviaz-Bank and other partners will help create more favorable conditions for promoting its leasing activities,” said Sergey Volokhov, Vice Chairman of Sviaz-Bank’s Management Board. “The company will be able to offer new services to its customers and make a contribution to a stronger leasing industry and Russia’s economy in general.”

The State Transport Leasing Company is one of the biggest Russian leasing companies in transportation. The company’s efforts are directed at stimulating renovation of vehicle fleets and supporting modernization of the transportation industry. The Russian Federation is the company’s sole shareholder, which has entrusted the country’s Ministry of Transport to manage the company.