JSC VTB Bank and ING Bank N.V., the Netherlands, signed a Master Loan Agreement aimed at raising mid- and long-term funds for Russian importers of industrial goods and services from some European countries under the coverage of export insurance agencies of those countries. Under the agreement, ING Belgium N.V., Belgium is also a co-financing bank.
The newly signed agreement will replace the previous expired one and will allow VTB Bank to get EUR 250 million long-term loan facilities.
The agreement will encourage further cooperation between VTB Bank and one of the leading financial institutions of Europe, ING Bank N.V. It will also facilitate trade turnover between the Russian Federation and European countries. Under the agreement, VTB customers will get a window of opportunity to materialize their own long-term projects to import equipment from Europe. The agreement is a further step undertaken by the Bank to raise finance in the global capital markets to support and develop Russian enterprises.
ING and 11th in the world in terms of assets. The bank has a wide network of branches and subsidiaries located globally. It maintains leadership in the European market offering a wide spectrum of banking services to large corporate customers in the global market. Its long-term ties with Russia and VTB Bank, in particular, are deeply Bank, the Nederlands is one of the largest European banks which is ranked the 1st in the country rooted in our history and are reflective of strategic importance of ING Bank’s relations with its Russian counterparties.