Russia’s VTB hopes Mozambique will repay $500 mln loan on scandal-ridden project
An arm of Russia’s state-backed
lender VTB is hoping the Mozambique government will
make it whole for losses on some $500 million in loans it made
to finance coastal defense and other development work there,
after the projects derailed amid a corruption scandal, an
executive said on Wednesday.
lender VTB is hoping the Mozambique government will
make it whole for losses on some $500 million in loans it made
to finance coastal defense and other development work there,
after the projects derailed amid a corruption scandal, an
executive said on Wednesday.
Posted by Reuters
