OREANDA-NEWS. On July 24, 2008 Deutsche Bank Russia and OJSC Detsky Mir - Centr have signed an agreement for a US20 million trade finance line, reported the press-centre of Detsky Mir.

"We are glad to broaden our cooperation with AFK Sistema, which has proven itself to be a reliable and professional partner. I'm certain that Deutsche Bank, a leading global institution in trade finance, will provide quality trade finance services for OJSC Detsky Mir," Joerg Bongartz, Chairman of the Board of Deutsche Bank Russia, said.

"The contract with Deutsche Bank is a part of the large-scale program for the replacement of direct crediting with instruments of trade financing, which Detsky Mir started to use actively back in 2007.  This program makes the financing of operating capital more efficient and cost-effective and ensures more accurate control over supplies," commented the General Director of OJSC "Detsky Mir - Centr" Maxim Entyakov.