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Russia's VTB signs $240m loan from Exim Bank

(Agencies)
Updated: 2009-03-18 19:25

Russia's second-largest bank VTB said on Wednesday it had signed an agreement for a seven-year, $240 million loan from Export-Import Bank of China.

VTB said in a statement the loan would be used by its leasing subsidiary, VTB-Leasing, to refinance the purchase of oil drilling equipment.