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Vneshtorgbank signed a credit agreement with Export-Import Bank of Thailand

 
7 July 2004

Within the framework of the visit made on 28 June 2004 by a delegation of the Federation of Industry of Thailand to Russia, Vneshtorgbank and Export-Import Bank of Thailand entered into a credit agreement to open a US$20 million revolving credit line on Vneshtorgbank for short term financing of exports from Thailand to Russia.

The agreement would enable Vneshtorgbank to finance imports from this Asian country on fair international market terms, using national export support from the Government of Thailand, and no guarantees from the Russian Government are required.

The signing of the agreement is an evidence of growing recognition of Vneshtorgbank in Asian region. At present, obligations assumed by Vneshtorgbank are recognised by export credit agencies and export-import banks of Russia`s primary trade partners from this area such as Japan, China, South Korea, India, Vietnam, Malaysia,ong others.


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