OREANDA-NEWS.  March 15, 2011.State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Republic of Indonesia represented by the Finance Ministry entered into a Credit Agreement.

Under the Agreement Vnesheconombank is to extend credit resources in the total amount of 5.95 million US dollars to Indonesia’s Finance Ministry.

These credit resources will be used to fund supplies of Russian industrial products to Indonesia under the export contract between Federal State Unitary Enterprise Rosoboronexport and the Indonesian Finance Ministry.

The signing of this Agreement testifies to the increased Russian-Indonesian cooperation. Vnesheconombank’s participation in funding the abovementioned project is aimed at promoting Russian industrial exports in Southeast Asian countries.