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VTB Bank signs a Memorandum of Understanding with Eksport Kredit Fonden, Denmark

27 April 2010

On 27 April, VTB Bank and Eksport Kredit Fonden, the state export insurance agency of Denmark, signed a Memorandum of Understanding.

The document is aimed at ensuring information exchange between Russian and Danish companies on potential projects . Besides, the parties will jointly develop projects to involve VTB as a borrowing bank for export loans from foreign banks under EKF insurance coverage. The loans will be channeled to finance supply of equipment from Denmark to Russia and the CIS.

The agreement will facilitate fundraising in the international markets to support and develop Russian import companies.

The Memorandum was signed during the official visit of the Russian President Dmitry Medvedev to Denmark. It becomes especially relevant in the context of strengthening economic ties and expanding trade turnover between the two countries.

For reference:

Eksport Kredit Fonden is the state export insurance agency of Denmark. EKF guarantees cover of commercial and political risks related to financing export from Denmark.

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