In December 2011, Indonesia purchased from Russia an additional batch of six multi-role Su-30MK2. The deal was for $ 470 million (photo : Fuerza Aerea)
VEB Will Lend
the Ministry of Finance of the Republic of Indonesia
State
Corporation "Bank for Development and Foreign Economic Affairs
(Vnesheconombank)" and the Republic of Indonesia through the Ministry of
Finance of the Republic of Indonesia signed a loan agreement.
The document
will provide Vnesheconombank Ministry of Finance of Indonesia credit facilities
totaling $ 399.5 million for the period of 7 years.
These loans
will be used to finance the delivery of Russian aircraft to the Republic of
Indonesia under the export contract between JSC "Rosoboronexport" and
the Ministry of Defence of the Republic of Indonesia.
The credit
agreement is the second transaction concluded with the Ministry of Finance of
Vnesheconombank the Republic of Indonesia for the past two years.
This
agreement demonstrates the progressive development of relations between the two
countries and meets targets set at the eighth meeting of the Russian-Indonesian
Joint Commission on Trade, Economic and Technical Cooperation.
Vnesheconombank's participation in financing the project promotes the export of
Russian high technology products to South-East Asia.
(VEB)
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