RNCB Bank has signed a loan agreement with Izumrud Specialized Developer LLC amounting to more than RUB 2.65 billion. The money will be provided as project financing for the construction of the More.Yalta apartment complex in Gurzuf village (Greater Yalta) for the period until 2025. The project will be implemented using escrow accounts, the bank informed.
The More.Yalta project envisages construction of nine buildings with 542 apartments, a restaurant, a swimming pool, playgrounds, and other recreational areas.
RNCB is a key bank of the Republic of Crimea established in 1992. The bank is wholly owned by the Government of Russia, 100% of its shares belonging to the Russian Federation represented by Russia's Federal Agency for State Property Management / Rosimushchestvo.
