OREANDA-NEWS. December 04, 2009. JSC VTB Bank and KfW IPEX-Bank GmbH (Germany) signed a new Framework Loan Agreement designed to raise funds for Russian importers of manufactured goods and services from Europe against security of European export insurance agencies, reported the press-centre of VTB Bank.

The agreement supersedes the previous one and implies EUR 200 million long-term credit facilities to be provided to VTB Bank.

The agreement will give a further impetus to VTB Bank’s relationships with leading financial institutions of Europe in trade finance, thus underpinning the importance of such cooperation between banks in the new market environment.

VTB Bank treats KfW IPEX-Bank as one of its key European partners in implementing long-term projects in the core Russian industries.

For reference:
KfW IPEX-Bank is a leading project and export finance institution. As a 100% subsidiary of KfW Bankengruppe, Germany, it is one of the few global financial institutions having the highest AAA ratings.

For many years, the Bank has been actively operating in Russia offering financial solutions in such top priority industries as power engineering, telecommunications, ship- and aircraft building, overland transport and environment preservation, as well as in urban infrastructure projects.