VTB Bank will grant a $43.6 million credit line to Mineralnye Vody International Airport through its management company, Aeroinvest, for a period of nine years, the bank said Thursday.
The credit line will largely be used to renovate the domestic and international terminal areas for arriving passengers.
“Mineralnye Vody is one of the fastest-growing regional airports in Russia and a major transport hub in the North Caucasus Federal District. The cooperation agreement was signed at the airport’s new terminal," Mikhail Oseevskiy, deputy president and chairman of the VTB Bank Management Board, said.
Aeroinvest CEO Yegor Solomatin said the airport expects to have increased traffic in the future, citing the airport's growth into one of the federation's busiest travel hubs.
"The loans provided by VTB will be used to renovate the domestic and international arrival halls, including a hall for those meeting arriving passengers. The project is scheduled for completion in spring 2016,” Solomatin said.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme