3 Dec 2009 15:20

VTB inks 200 mln euro credit line deal with KfW Ipex-Bank

MOSCOW. Dec 3 (Interfax) - VTB has signed a deal with KfW Ipex-Bank on a long-term credit line worth 200 million euro, VTB said in a statement.

The agreement is aimed at raising financing for Russian companies that import industrial goods and services from European countries under insurance coverage provided by European export-insurance agents.

This latest document replaces a previous and expiring credit agreement the two banks signed at the end of 2004, the statement said.

KfW Ipex-Bank Gmb is part of the KfW bank group, which specializes in project and corporate financing, along with trade and export financing in Germany and abroad. Since January 1, 2008, KfW Ipex-Bank has been an independent subsidiary and has a chain of offices in key economic and financial centers around the world.