OREANDA-NEWS. On October 22, 2007 URALSIB Leasing Company and Export Development Canada (EDC) signed a Memorandum of Understanding at the Russian Agro-Industrial Fair "Golden Autumn 2007" held in Moscow, reported the press-centre of URALSIB.

The document is aimed at further development of interaction in Canadian export contracts financing with URALSIB Leasing company's customers. According to the Memorandum, the total amount of loan facilities will reach USD 50 million with the tenor of up to 7 years for each facility.

URALSIB Leasing Company traditionally works in a close partnership with Canadian manufactures and was first among Russian leasing companies to gain such level of confidence with EDC.

URALSIB Leasing company is part of URALSIB Financial Corporation and one of the largest and most diversified leasing companies in the Russian market (www.leasing.uralsib.ru). In 2006 URALSIB Financial Corporation was ranked first among Russian universal leasing companies by Leasing Review Journal. The Company is recognized as a market leader for construction equipment lease as well as for agricultural and food industry equipment lease.

The Company has 44 affiliates located in 6 regions of Russia. The value of the equipment leased in 2006 amounted to USD 482 million as of December 31, 2006. The Company's lease portfolio achieved USD 1,1 billion, as of October 1, 2007.

Export Development Canada (EDC) is Canada's export credit agency which provides innovative financing, insurance and bonding solutions to Canadian companies that export goods and services or invest in other countries. EDC operates in 200 markets worldwide, including 130 emerging markets.