EBRD to lend Russia Volkswagen plant 750 mln euros

Newswire

MOSCOW, July 31 (Reuters) - The European Bank for Reconstruction and Development (EBRD) will lend 750 million euros ($1 billion) to help German's Volkswagen AG build its first car plant in Russia, the bank said on Tuesday. The bank will lend 250 million euros itself and will organise a syndicate for the remaining sum. Volkswagen is building a plant near the Russian city of Kaluga which will produce 115,000 cars a year. The company earlier estimated the plant's cost at 370 million ...

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