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Vnesheconombank and Deutsche Bank finance a modern pig-breeding complex construction in Voronezh region

30 january 2012 года
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State corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and Deutsche Bank AG, Frankfurt concluded loan agreements to finance a pig-breeding complex construction project in Voronezh region.

Deutsche Bank AG provided a 7-year facility of up to RUB 814 million, insured by the German export credit agency Euler Hermes, for financing of 85% of the German equipment supply contracts and up to 100% of the respective insurance premium. A 5-year, EUR70 million commercial facility was also raised by Vnesheconombank from Deutsche Bank.

In the current circumstances, raising long-term ruble facilities insured by Euler Hermes demonstrates that Russia’s national currency and Vnesheconombank enjoy foreign creditors’ confidence, this deal being another milestone in the further development of the Russian-German trade and economic relationship.

The project «Construction of a modern pig-breeding complex with a capacity of 42 thousand tons in live weight per year in Voronezh region» is implemented by “APK AGROECO” LLC. The total project value is RUB 5.8 billion, with Vnesheconombank’s commitment being RUB 4.6 billion.

 

Deutsche Bank is a leading global investment bank with a substantial private clients franchise. Its businesses are mutually reinforcing. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With more than 100,000 employees in 73 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions, creating lasting value for its clients, shareholders, people and the communities in which it operates.

 

State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” was established in 2007 through a transformation of Bank for Foreign Economic Affairs of the USSR.

Vnesheconombank operates in conformity with Federal Law dated May 17, 2007 “On Bank for Development”. The Memorandum on Financial Policies approved by Resolution of the Government of the Russian Federation dated July 27, 2007 sets forth major business lines and indicators of the Bank’s performance.

Vnesheconombank is one of the key instruments for implementing the state economic policy aimed at removing infrastructure restrictions that impede economic growth, enhancing efficient utilization of natural resources, developing high-tech industries, unleashing innovative and industrial potential of small- and medium-sized enterprises (SMEs) and ensuring support for exports of industrial goods and services.

 

Press Office of Vnesheconombank
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru


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