Sberbank Credit to Irkut MC-21 Airliner Project Touches $1 Billion

Sberbank, a state-owned Russian banking and financial services company, has provided financial credit resources worth about USD 1 billion for development of newest medium-range MC-21 airliner project since 2012.

Irkut Corporation announced during MAKS airshow 2017 that Sberbank has signed a cooperation agreement for its MC-21 airliner development, to provide further support to the project.

The agreement implies the possibility to provide the Corporation with a wide range of financial products of the bank for the development of the MC-21 project, including the after-sales support of the aircraft.

Vice President of Sberbank Vyacheslav Tsibulnikov said: “We are proud to participate in the most important project of the Russian aviation industry to create a modern and competitiveaircraft for world markets. Our bank continues to develop cooperation with the leading Russian aircraft manufacturers”.

President of Irkut Corporation Oleg Demchenko said: “We highly appreciate the strategic partnership with Sberbank, with which we work on the core projects of the corporation”.

He also added that Sberbank employees provided substantial assistance in analyzing the financial model of the MC-21 project.