Banks

VTB Group and Russian Platinum have signed a memorandum on strategic partnership for the development of the deposits at Chernogorskoye and the southern sector of Norilsk-1.

Tsesnabank says Fitch Ratings downgraded bank long-term issuer default ratings from "В+" to "В" and changed outlook from negative to stable

Today's agreement in Cyprus means that the EFSI guarantee is now helping to boost investment throughout the EU. 

ADB and Mongolia today signed three grant agreements totaling $4.8 million for projects to promote gender equality, provide affordable sanitation, and build sustainable tourism in Mongolia’s northern region.

China has inked an agreement with the New development bank set up by the BRICS approving a 525 million yuan loan for a solar power project in the country, an official statement said.

ADB held a training and capacity building workshop today in Shanghai for Shanghai Pudong Development Bank (SPDB) officials in facilitating their capacity to address the increasing demand for energy saving buildings in the PRC.

The report released earlier in the week predicted a recovery in emerging markets – Russia, being a case in point – amid modest global economic growth.

An ADB program received support from the Green Climate Fund (GCF) to assist seven Pacific island countries to transition to renewable energy. 

On 16 December 2016, the Bank of Russia Board of Directors decided to keep the key rate at 10.00% per annum. The Board of Directors notes that the dynamics of inflation and economic activity are overall in line with the forecast and inflation risks have subsided somewhat.

ADB and the Government of Georgia have signed a $99 million ADB loan to upgrade water supply, sewerage, and sanitation systems for nearly 62,000 households in the secondary towns of Marneuli, Bolnisi, and Chiatura.

The Supervisory Council of VTB Bank has decided to appoint Mikhail Zadornov and Gennady Soldatenkov as Members of the Management Board.

On 14 December 2016 ALROSA repaid a $370 mln bank loan to JSC UniCredit Bank received in April 2014. The bank loan was repaid with cash from operations, thus reducing debt down to $2.3 bn.

The Board of Directors of the African Development Bank (AfDB) has approved a financing package of USD 100 million, comprising USD 50 million equity and USD 50 million convertible senior loan, to seed the Facility for Energy Inclusion (FEI).

Sberbank is pleased to announce its Supervisory Board will hold a meeting at the Central Office of Sberbank on December 13, 2016.