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Russian public broadcaster secures new loan

Russia’s struggling public broadcaster, launched earlier this year, has secured a reprieve in the form of a loan from Vnesheconombank, which is extending credit of RUB250 million (€190 million) to the organisation.

The Russian state has invested RUB1.5 billion in the broadcaster to date, but in the absence of other sources of funding the channel was facing imminent closure.

PTV began broadcasting, after some delay, in May. The channel was established on the initiative of former president Dmitry Medvedev.

Tags: Russia