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On signing an Agreement between Vnesheconombank and Bayerische Landesbank

25 september 2009 года
#News
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and Bayerische Landesbank (Germany) signed a Framework Credit Agreement.

The agreement envisages the possibility of raising credit resources by Vnesheconombank in order to finance supplies of equipment and/ or services from Germany and other Organisation for Economic
Co-operation and Development (OECD) member states to the Russian Federation for the purpose of implementing projects aimed at Russian economic development.

Conclusion of the Framework Credit Agreement is a clear demonstration of high level of Russian-German economic cooperation, as well as both bank’s intention to further bolster partnership relations.

Bayerische Landesbank (BayernLB) is one of the largest banks in Germany and was established in 1972. Under its revised strategy, it will concentrate on Small and Medium Enterprises, large corporates, commercial real estate and retail banking segments from now on. BayernLB has strong relationships with German and international customers and is excellently positioned in export and project financing, particularly in the growing renewable energy market. The Bank’s assets as of June 30th, 2009 have amounted to EUR 404,56 billion.

 

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


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