EDB and KfW IPEX-Bank Sign a Framework Credit Agreement
Moscow, October 30, 2017. The Eurasian Development Bank (EDB) and KfW IPEX-Bank GmbH (KfW IPEX-Bank) have signed a framework credit agreement envisaging extension of loans with a total principal amount of up to EUR 200 million. The document sets forth general terms and conditions for tied financing of European export contracts within the framework of infrastructural projects currently implemented in EDB member states. Tied financing is to be provided against insurance coverage provided by the leading European export credit agencies.
The following officers acted as signatories: for the EDB - Dmitry Ladikov-Royev, Managing Director, ALM; for KfW IPEX-Bank - Andreas Windhoff, Director, Financial Institutions Department.
"The signing of the agreement will make it possible to streamline and expand the Bank's capacity in terms of arranging tied financing for EDB investment projects," noted Dmitry Ladikov-Royev, Managing Director, ALM, EDB.
"KfW IPEX-Bank is interested in expanding cooperation within the region of presence of the Eurasian Development Bank, and considers the EDB, as an international financial institution, to be a reliable and experienced partner," commented Andreas Windhoff, Director, Financial Institutions Department, KfW IPEX-Bank.
For reference:
Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 to promote development of market economies of its member states, and secure their sustainable economic growth and exp/ansion of their mutual trade and economic ties. The charter capital of the EDB is $ 7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
KfW IPEX-Bank, a KfW Banking Group subsidiary, is responsible for international project and export financing. The Bank offers mid-term and long-term financing to support key export-oriented branches of industry, assure ongoing development of the economy and social infrastructure, provide funding for environment and climate protection projects, and secure uninterrupted supply of raw materials. KfW IPEX-Ban is a standalone subsidiary of the Group represented in the most economically and financially important global centers.
EDB Media Center:
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e-mail: pressa@eabr.org