On 21 September 2004 in the Kremlin, as part of an official meeting between the President of Russia, Vladimir Putin, and the President of the
The agreements were signed on behalf of Vneshtorgbank by the President-Chairman of the Board, Andrey Kostin, and on behalf of the Export-Import Bank of
In return of the Framework agreement for the financing of trade operations between the banks running since November 2003 an Inter-bank agreement on the crediting of export-import operations was signed. In accordance with the conditions of the new agreement Vneshtorgbank now has additional capabilities to provide financing to their clients, both as part of documentary operations, and in granting individual credit. The financing grants 100% of the cost of the contract for a period of up to two years under floating and fixed rates.
The banks also signed a credit agreement for the financing of export deliveries. As part of this agreement the financing will be provided to Russian companies importing goods from
At this moment in Vneshtorgbank there are a few projects under consideration for the delivery of equipment and machine parts from
The signing of this agreement, which allows Vneshtorgbank to grant financing to their clients at beneficial rates, foresees the improvement of trade and economic relations between
Summary: The Export-Import Bank of