OREANDA-NEWS. February 18, 2011. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and DZ BANK AG DEUTSCHE ZENTRAL-GENOSSENSCHAFTSBANK, Frankfurt am Main (DZ BANK AG), signed Credit Line Agreement.

The Agreement was signed by Vnesheconombank’s Member of the Board Deputy Chairman Mr. Peter Fradkov and DZ BANK’s Member of the Board Mr. Wolfgang Kцhler.

The aim of this Agreement is to finance investment projects of Vnesheconombank’s clients predominantly with the participation of German companies on the territory of Russian Federation.

As Germany’s fifth largest bank DZ BANK AG forms part of the German cooperative financial services network, which comprises more than 1,100 local cooperative banks (Volksbanken und Raiffeisenbanken) and is one of Germany’s largest private-sector financial services organizations measured in terms of total assets. Within the cooperative financial services network, DZ BANK AG functions both as a central institution for more than 900 cooperative banks and their 12,000 branch offices and as a corporate and investment bank with a growing European and selective Asian reach. DZ BANK AG has branches in London, New York, Singapore and Hong Kong as well as subsidiaries and representative offices in key financial centres throughout the world.