Vnesheconombank signed a framework agreement with China Development Bank under which the Chinese financial institution could lend up to 65 billion yuan to the Russian state-owned lender to finance joint projects, Reuters reported.
Currently, there are about 70 projects that the two banks could co-finance as part of various programs and initiatives between Russia and China, VEB said June 8, citing its chairman, Igor Shuvalov.
As of June 7, US$1 was equivalent to 6.39 Chinese yuan.
