19 April 2004 05:18
ING Bank to extend credit to Vneshtorgbank
MOSCOW. April 19 (Interfax) - Russia's Vneshtorgbank (VTB) and the Netherlands' ING Bank signed a credit
agreement at the 7th Russian economic forum in London on Monday, VTB announced in a press release.
Under the agreement, the Dutch bank will open a 250 million euro credit line to finance exports of industrial goods
and services from the Netherlands, Germany, Belgium and other European countries to Russia.
ING BHF-Bank (Germany) and ING Belgium will co-finance the project.
The agreement was signed by Vladimir Dmitriyev, Vneshtorgbank's deputy president-chairman, Erwin Nederkoorn, ING
Bank's vice president for structural export financing, and Dick ten Bosch, general director of ING Bank
Eurasia.
Financing will be provided for 85% of the value of import contracts, in euros or in U.S. dollars.
The project will be state-supported in European countries, and national insurance companies will accept
Vneshtorgbank's risks without Russia's sovereign guarantees, the press release says. [RU EUROPE EEU EMRG NL DE
BE FIN TRD] sd tl
[Interfax] |
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