icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

German auto giant gets largest ever EBRD loan for Russian expansion

The European Bank for Reconstruction and development is lending Volkswagen its largest ever loan of $US1.12 billion to build its first car plant in Russia.

The car plant in Kaluga region is the third greenfield factory the EBRD has invested in the past six years.

Volkswagen will start assembly-line production at the site in early 2009.