China Development Bank has not yet provided its loans to Sverdlovsk Region’s enterprises, Governor of Sverdlovsk Region Alexander Misharin announced at a press conference in Yekaterinburg.

‘To the best of my knowledge, the Chinese bank decided to offer six loans to Russian companies, but not a single one has been actually provided so far. Nevertheless, the decisions involving Sverdlovsk Region-based enterprises still might be positive because the intermediary for this money transfer has already been determined. This is going to be Foreign Trade Bank (VTB). This bank has already got an agreement with the Bank of China. We have provided Foreign Trade Bank with eight or nine business projects worth $97bn, and their work team is now considering our applications,’ Misharin said.

The Governor explained a meeting with Foreign Trade Bank’s representatives would take place within the next two weeks.

The Chinese Bank decided to offer a $1 credit line to VTB as early as last summer. The money was supposed to finance a number of construction and investment projects in Sverdlovsk Region, with the Chinese companies acting as the Ural business community’s partners.