OREANDA-NEWS. May 24, 2011. State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and WestLB AG, London Branch (WestLB) signed an Agreement on extending a credit worth 80 million euros to Vnesheconombank.  Under the Agreement the credit line is to be used to fund the real economy, specifically, to fund the project aimed at creating a home building factory to construct prefabricated reinforced-concrete buildings in the Rostov region, with the project being implemented by LLC Irdon.

WestLB AG – is a European commercial bank with a focus on business in Northern Rhine Westphalia, Germany’s largest Federal state. As of December 31, 2010, the Bank’s total assets amounted to € 191.5 billion. The Bank is one of the most important financial institutions of Germany.