MOSCOW, April 6 (Reuters) - Russian state-controlled bank VEB said on Monday it has borrowed $180 million from Sumitomo Mitsui Banking Corp. (SMBC) to finance the construction of a new international terminal at the Moscow Sheremetyevo airport.
Sheremetyevo, Russia’s second biggest airport, is notorious for its hours-long queues and Soviet-style service -- which foreign investors say complicates doing business in Russia.
The new Sheremetyevo-3 international terminal to be launched this year should solve these problems, the authorities say.
The 10-year loan facility is secured under the guarantee of Nippon Export and Investment Insurance. (Reporting by Dmitry Sergeyev; Editing by Greg Mahlich)
Our Standards: The Thomson Reuters Trust Principles.