Today, on May 23, in the course of Russian President Vladimir Putin’s formal visit to Austria and during the Russian-Austrian Business Forum Vnesheconombank and Bank Austria Creditanstalt AG signed a Framework Loan Agreement to fund exports of European goods and services to the Russian Federation against the coverage of Austrian and Italian export credit agencies.
The Agreement was signed by Vnesheconombank First Deputy Chairman Nikolay Kosov and Bank Austria Creditanstalt Executive Director Erich Hampel.
The Agreement provides for carrying out mid and long-term projects of Russian technical engineering products importers. With the Russian Federation being transferred recently to the third risk category of borrower countries under the OECD classification, conditions are sure to be favorable. Bank Austria Creditanstalt AG is prepared to assume Vnesheconombank’s risk without any additional counter-guaranties on the Russian part.
The signing of the Framework Agreement with Bank Austria Creditanstalt AG opens up ample opportunities for promoting bilateral Russian-Austrian cooperation by carrying out major investment projects on the territory of the Russian Federation and would help increase trade between the two countries.
Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 208-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru
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