OREANDA-NEWS. November 10, 2010. State Corporation "Bank for Development and Foreign Economic Affairs (Vnesheconombank)", BHF-BANK Aktiengesellschaft and KfW IPEX-BANK GmbH signed two Individual Loan Agreements. The aim of these agreements is to finance supply of German equipment for the project for construction of high-level wood processing manufacture.

Within the scope of the above documents the German banks will provide to Vnesheconombank two loans for the total amount of EUR 62.6 million. The amount of Loan Agreement signed under Euler Hermes coverage is EUR 53.84 million. The total tenor of the Euler Hermes backed financing is 10 years. The amount of the Commercial Loan Agreement is EUR 8.76 million.

BHF-BANK is acting as an Agent under these Agreements.

This project is included in the list of the priority investment projects in the sphere of forest exploitation.

BHF-BANK is a modern German private bank focused on corporate and private banking. The bank is a leading provider of export and commodity finance and has a long track record in structured export finance in Russia and other Eastern European countries.