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AvtoVAZ Takes Loan
05 July 1994
MOSCOW -- , Russia's largest automobile manufacturer, has obtained a $100 million credit from a foreign bank to improve production and export, an official from AvtoVAZbank said Friday. The seven-year loan was issued to AvtoVAZ by Standart Charter Bank from London, according to AvtoVazbank spokeswoman Lyubov Pleshanova. Bank spokesman Igor Kulagin said that the money will be primarily used to install an electronic fuel-injection system in some AvtoVAZ models and launch the VAZ-2110 in 1995.
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