MOSCOW, December 20 (RIA Novosti) – Russia’s Vnesheconombank (VEB) will provide Indonesia with a total of $399.5 million in credit to finance purchases of aircraft and related equipment from Russia’s state-run arms export company Rosoboronexport.
The credit will be provided for a seven-year term, Rosoboronexport said.
This is the second credit agreement between VEB and Indonesia’s Finance Ministry in the past two years.
Last week VEB’s deputy chief Alexander Ivanov said VEB won the Indonesian Finance Ministry’s tender to finance the purchase of six Russian-made Su-30MK2 Flanker multirole fighter aircraft.