China to Extend $1bln Credit to Russian Banks

VLADIVOSTOK. October 14. VOSTOK-MEDIA – Russia’s largest banks will borrow money from China. Agricultural Bank of China will extend $500 credit to each of the Russian banks – Vneshtorgbank and Vnesheconombank, stated the Vice Prime Minister of Russia Alexander Zhukov summing up the Russia-China Forum, which was held in Beijing.

According to the Vice Prime Minister, the two countries have already signed the $3.5 bln agreements, made arrangements in the spheres of housing and highways construction, railway transportation, energy supplies as well as in many other areas, PRAVDA.Ru website wrote.