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MKB completed 100 million CNY deal with China Development Bank

31.08.2020

Credit Bank of Moscow (MKB) has successfully completed raising funds from China Development Bank in the amount of 100 million CNY. MKB became the first private Russian bank implemented that transaction format.

The funds received will be used to develop trade between Russia and China, support international relations with Chinese partners, as well as to increase settlements in the national currencies of the two countries.

Credit Bank of Moscow views China as a strategically important region to expand its operations. The Bank plans to continue cooperation with financial institutions, and not only in terms of foreign trade, but also with the goal of participating in large-scale long-term projects of the One Belt — One Road initiative.