EDB Allocates $10 Million to Bank St. Petersburg’s Trade Development Projects

On 20 December, the Eurasian Development Bank (EDB) signed a framework agreement with Bank St. Petersburg on a target credit facility for financing import and export transactions of this Russian bank’s clients. The agreement is made for 13 months, and the total size of the facility is $10 million.

“This project will broaden the range of sources of finance available to Bank St. Petersburg”, says Dmitry Krasilnkov, Managing Director for Corporate Finance/Member of the EDB Executive Board. “When making this agreement, we reasoned that it will give an added impetus to mutual trade and integration between EDB member states. According to the project documents, about 60% of the loan ($6 million) will go towards client’s import and export transactions in EDB states”.

The agreement with Bank St. Petersburg is another project being implemented under the EDB’s Programme of Development of Trade Financing Instruments and Mutual Trade between Member States.

Additional information

Bank St. Petersburg is one of Russia’s largest regional banks. It is active in St. Petersburg, Leningrad Oblast, Moscow, Kaliningrad and Nizhny Novgorod. The bank has strong positions in all banking service segments: credit, securities, plastic cards, settlement and cash services, currency, corporate and individual clients, and inter-bank credit. Due to its correct strategy, consistent financial policy and adherence to the principles of civilised business conduct the bank has enjoyed renown as a strong and reliable partner for many years.

Detailed information is available at: https://www.bspb.ru