13 Jul 2009 15:29

Sviaz-Bank to receive loan of 18 bln rubles from VEB

MOSCOW. July 13 (Interfax) - Sviaz-Bank is raising a loan of 18 billion rubles from Vnesheconombank (VEB), Deputy CEO Andrei Kaluzhsky told journalists on Monday.

"The funds will mainly be allocated to lending in the communications sector. The lion's share will go to Svyazinvest and Russian Post," he said.

Russian telecommunication companies received about 10 billion rubles in the first half of the year, he said. They will receive a planned 40 billion rubles in the second half.

VEB purchased 10 billion rubles in Sviaz-Bank loans in April-May, he added.