EDB and Deere Credit Inc. (the U.S.) to cooperate in agricultural and forestry projects

Moscow, 11 July 2012. Eurasian Development Bank (EDB) and the American Deere Credit Inc (DCI) signed today a memorandum of understanding. The document was signed by Igor Finogenov, Chairman of the EDB Management Board, and Nils Jaeger, Vice President of DCI.

John Deere is one of the world’s leading suppliers and sellers of equipment for forestry and agriculture, including tractors, grain combine harvesters, and seeding machines.

DCI specialises in lease transactions and provides financial loans to buy equipment from this manufacturer.

In the memorandum, the parties state their intention to develop bilateral cooperation so that their financial resources would be used more efficiently. The parties will cooperate in projects to advance agriculture, forestry and infrastructure in the region of EDB’s operations, which involve the supply of John Deere equipment.

In accordance with the document, EDB and DCI will exchange information about such projects, assess them and cooperate in their structuring and the arrangement of financing for them.