October 13, 2014 / 11:26 AM / 5 years ago

Russia's VTB, VEB, Rosselkhozbank agree on loans with China Exim Bank

MOSCOW, Oct 13 (Reuters) - Russian sanctions-hit banks, VTB and state development bank VEB, signed on Monday framework agreements with China Exim Bank to open credit lines, a Reuters reporter said from the signing ceremony.

In addition, Russian Agriculture Bank, or Rosselkhozbank, also hit by Western sanctions, and China Exim Bank signed a framework agreement on providing trade financing.

Russia’s Central Bank and the People’s Bank of China agreed on currency swaps.

Russia’s mobile phone operator MegaFon and China Development Bank signed an agreement to arrange financing of $500 million.

Reporting by Vladimir Soldatkin; writing by Katya Golubkova; Editing by Lidia Kelly

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