OREANDA-NEWS. August 18, 2011. State corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)”, HSBC Bank Plc (HSBC) and Australia’s Export Finance and Insurance Corporation signed an individual loan agreement to finance Stage I of a project for construction of a complex to raise highly productive beef cattle stock and primarily process meat in the Bryansk Region. The project is implemented by the Bryansk Meat Company (Ltd.), reported the press-centre of Vnesheconombank.

In compliance with the document signed, HSBC is to provide Vnesheconombank with credit resources in the amount of USD 39.7 million to finance in 2011 contracts between the Bryansk Meat Company (Ltd.) with a number of Australian beef cattle exporters under the cover offered by EFIC (9.5-year tenor).