Russia signs US$200 million export credit deal with China's Sinosure

(Novosti, Beijing, 2 November 2005) Russia's major state-owned savings bank, Sberbank, has asked several Chinese banks for loans to finance large investment projects in Russia. Earlier this year, the bank signed an agreement with Sinosure, China's only export credit insurance corporation. The deal makes it possible to fund short-term commercial transactions of Russian companies and to invest in projects run by Sberbank's corporate clients to buy equipment from China.