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Russian Federation : PROMSVYAZBAN secures $40 million loan for supporting RESIDENTIAL MORTGAGE LENDING

July 17, 2014

A $40 million loan is being offered by the Black Sea Trade & Development Bank (BSTDB) to Russia s Promsvyazbank for backing up residential mortgage lending to individuals.

BSTDB President Andrei Kondakov added, We welcome this agreement aiming at improving living standards for Russian people. The BSTDB financing increases the accessibility of affordable long-term mortgage loans and also supports the residential real estate market and related industries in Russia .

Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova Romania, Russia, Turkey and Ukraine had founded the BSTDB for backing up economic development and regional cooperation.

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Source: TendersInfo (India)

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