LONDON, July 26, 2012: The financing agreements for VTB Bank's VTB Arena were signed in Moscow in a recent ceremony attended by Russian Prime Minister Dmitry Medvedev and Italian Prime Minister Mario Monti. VTB Bank has borrowed a €500 million loan for the construction of the stadium, which has been heralded as one of the Russian Federation's largest development projects. The stadium will be jointly owned by Dynamo FC, a Moscow team that plays in the Russian Premier League, and VTB Bank, which owns a majority stake in the team. The stadium will be a focal part of the 2018 FIFA World Cup, which will be hosted by Russia.
For additional information, please see the press release by Intesa Sanpaolo.