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Lidings advises China Development Bank


Lidings provided legal support to China Development Bank in granting a special purpose loan to a Russian Vnesheconombank to finance construction of a large multifunctional complex in Moscow.

The project involved joined input from Lidings banking and finance practice group’s lawyers working together with the Firm’s corporate and M&A practice specialists. The project team led by Lidings counsel Vadim Konyushkevich prepared detailed legal opinion in relation to the loan granted to Vnesheconombank by the client, as well as provided recommendations on the issues of internal coordination of the deal by the Russian bank, legal regulation of intended use of the loan facilities, requirements of the Russian foreign currency control and applicability to the deal of the double tax treaty.

«We enjoy the opportunity to support China Development Bank in pursuing its investment strategy in Moscow. Lidings traditionally supports projects contributing to development and strengthening of the Sino-Russian business relations and increasing investment inflows from Chinese companies many of which are our clients», - Vadim Konyushkevich commented.

China Development Bank (state-owned development bank) was established in 1994. Charter capital is 50 bln yuan (EURO 6 bln). The Bank’s main purpose is to support key industries such as manufacturing, infrastructure construction, as well as to support development policies in terms of expansion and development of particular territories and fulfillment of international financial organizations’ loan obligations.


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