JSC VTB Bank and Export Development Canada entered into a loan agreement aimed at financing the Canadian export of equipment and services to Russia worth up to USD 100 mln.
The agreement replaces the expired one and stipulates extending by the Canadian party short- and long-term credit facilities to finance VTB customers’ projects with regard to import of equipment and services from Canada.
The agreement will provide for further developing the cooperation between Russian and Canadian companies, boosting trade turnover between Canada and Russia, and strengthening VTB competitive positions in servicing foreign trade operations.
Forreference:Export Development Canada (The Canadian corporation of business development) is an export credit agency financing trade operations with Canadian exporters and investors. JSC VTB Bank and Export Development Canada maintain long-term mutually-beneficial cooperation.