OREANDA-NEWS. October 18, 2010. LOCKO Bank and the Eurasian Development Bank (EDB) signed the USD15 million Credit Line Agreement under EDB’s program for the development of trade finance and facilitation of trade between its member-states, reported the press-centre of LOCKO Bank.

The credit line is provided for the period of two years and may be rolled further, while separate tranches within will be provided for the period of up to one year with an extension option for another year. Participation in the program is the debut mutual project between Locko Bank and EDB.

Dmitry Kryukov, the Chairman of the Executive Board said on the signing: "Financing of clients’ foreign trade operations is one of the priorities for LOCKO Bank’s business development, and we believe that cooperation with EDB will contribute to our ability to provide competitive and flexible financing options for the clients and further improve our business franchise. Furthermore, LOCKO Bank has always been strategically focused on building up strong relationships with international development institutions, and collaboration with EDB continues our successful track record in cooperation with such international financial organisations as EBRD, IFC, KfW and others".