OREANDA-NEWS. December 21, 2012. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and ING Bank N.V. London (the Netherlands) entered into a Commercial Credit Agreement for a period of 5 years.

Credit facilities provided by ING Bank N.V. in the amount of up to 50 million euros are to be used by Vnesheconombank to fund an investment project on the construction of a hotel complex as part of developing the Zavidovo territory. The project is being implemented by LLL Zavidovo Plaza.

The project is designed to overcome economic growth infrastructure restrictions including tourism infrastructure development.

ING Bank N.V. is a member of the international finance corporation ING Group – a global company of Dutch origin with a 150-year history. It provides a wide range of financial services including banking, insurance and trust management services in more than 50 countries throughout the world. In terms of market capitalization ING Group is among the five largest institutions in Europe .In Russia ING Group is represented ING BANK (EURASIA) CJSC which is actively participates in various forms of funding and lending  projects of the largest Russian enterprises.