On January 19, 2005, a Framework Loan Agreement was signed between Vneshtorgbank and Deutsche Bank AG, Germany.
In line with the terms stipulated by the Framework Agreement, Deutsche Bank AG shall open to Vneshtorgbank a credit line to finance 85 percent of the contract value of the industrial goods and equipment to be purchased by Russian importers from the OECD countries, under guarantees issued by export credit insurers of the respective countries. Loans are extended for 10 years.
The agreement signed was a further step towards implementation by Vneshtorgbank of its strategy aimed at raising finance on international markets to support the Russian economy. The funds are raised at the terms most favorable for Vneshtorgbank`s customers.
Deutsche Bank AG, Germany is a universal commercial bank with a well-developed branch network. It was established in 1872. In terms of assets (EUR803.6 billion), the Bank is ranked no. 1 in the world and has long-term credit ratings of AA-, A-1+ from S&P. In April 1998, the Bank opened its subsidiary in Moscow, which is now placed 33ong the Russian banks.