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Unspecified loan to Ukrainian component producer

Russian bank funds Ukrainian supplier for the Su-30 programme

Published: 2/16/2000

MDM Bank have announced that they have granted a loan to Artem a joint-stock holding company controlled by the Ukrainian state, related to its role as a subcontractor for the production of 40 Su-30MKIs to India. Artem is involved in the manufacture of undisclosed components for the aircraft. The MDM Bank has already had issued debts to a number of companies in the military area, but this is its first loan granted to a non-Russian company. The bank has not disclosed the size and terms of the loan. MDM has been involved in a number of loans to the aerospace sector including a $3.5m loan to Aviakor to fund the completion of three Tu-154Ms at the end of 1999. Associated articles: www.concise.org 14th October 1999

Article ID: 1433

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