OREANDA-NEWS. In the course of Russian President Vladimir Putin’s formal visit to China, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ signed a credit agreement with the Export-Import Bank of China on providing a credit line worth 500 million US dollars.

On behalf of Vnesheconombank the agreement was signed by Chairman Vladimir Dmitriev and on behalf of the Export-Import Bank of China – by Chairman and President Li Rougu. The agreement was signed in the presence of Russian President Vladimir Putin and President of the People’s Republic of China Xi Jinping.

The agreement provides for extending credit facilities to fund projects to be implemented on Russia’s territory.