BEIJING OPENS CREDIT LINES FOR VNESHTORGBANK

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BEIJING, October 14 (RIA Novosti) - The Russian Vneshtorgbank and five Chinese state banks have signed an agreement, Vneshtorgbank President Andrei Kostin told journalists.

According to him, credit lines allocated by the Chinese banks are worth $900 million.

This money will be used to finance bilateral cooperation in telecommunications and shipbuilding.

The agreements were signed with the Chinese Agriculture Bank, the Building Bank, the Transport Bank, the Bank of China and the Export-Import Bank, Mr. Kostin specified.

According to him, each bank will allocate $200 million except the last (it will allocate $100 million).

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