20 April 2004 00:51
VTB offers $325 mln in guarantees, loans
MOSCOW. April 20 (Interfax) - Vnestorgbank (VTB) has allocated over $325 million in guarantees and loans to Russian
exporters and agriculture producers as part of funds raised from the European Bank for Reconstruction and
Development.
VTB on Monday received an EBRD award as the "Most Active Russian Bank in Intra-regional Trade Finance," the
Russian bank reported.
"Vneshtorgbank is one of Russia's biggest banks, servicing over 10% of Russia's foreign trade
turnover. The award is further evidence of Vneshtorgbank's acknowledgement on the international arena," VTB
said.
VTB has positive experience of working with the EBRD in different areas, including programs to support agriculture
companies and to support trade, on which EBRD guarantees VTB obligations (letters of credit and guarantees) and offers
pre-export financing loans for VTB clients for up to 3 years.
VTB was ranked second by asset volume in the Interfax-100 list of Russia's banks in 2003. The list is compiled
by the Interfax Center for Economic Analysis. [RU ASIA EUROPE EEU EMRG BNK LOA] me
[Interfax] |
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