EDB provides a loan facility to Rosevrobank for the purposes of trade finance
Almaty, 18 June 2012. Eurasian Development Bank (EDB) signed on Friday in Moscow an agreement on the provision of a two-year revolving loan facility to Rosevrobank for a total of US $7 million. The funds will be used to finance foreign trade transactions of the clients of this Russian bank in the EDB member states. Financing may be provided in the roubles, euro, US dollars, or in the currencies of the CIS countries.
The objective of the agreement is to expand the external sources of Rosevrobank’s financing for its clients engaged in international trade. In addition, it is expected to enhance mutual trade between the EDB member states and thereby foster integration between them.
«The financing of export and import transactions results in growing mutual trade and in the development of corporate and partnership relationships between entities from the Bank’s member states,» Dmitry Krasilnikov, Managing Director for Corporate Finance and Member of the EDB Managing Board, said. «This is the reason why we deem trade finance an effective instrument of integration.»
The project with Rosevrobank is being implemented in the framework of the EDB Programme for the Development of Trade Finance Instruments and the Enhancement of Mutual Trade between the EDB Member States, which was adopted in the summer of 2010.
Additional Information
JSB Rosevrobank (OJSC) has been in the Russian banking system since 1994. It is a full-service financial and lending institution which provides all the main types of banking transactions that exist in the financial market, including corporate and private banking, loans for small and medium-sized businesses, the development of international business, and brokerage. Rosevrobank is one of Russia’s largest banks in terms of assets and equity. Russian business publications list Rosevrobank among the top fifty most reliable banks. Read more at https://www.rosevrobank.ru/
Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital exceeds US $1.5 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. Read more at https://www.eabr.org.