Almaty, 9 November 2011. The Eurasian Development Bank (EDB) and Bank Saint Petersburg signed today a supplement to their framework agreement. The document increases the targeted loan facility to the Russian bank from US $10 million to US $25 million. The parties also agreed to extend the agreement for 12 months until January 2013.
In accordance with the agreement, at least 60% of the EDB’s loan must be used to finance export and import operations of the Russian bank’s clients in the EDB member states.
“All the 10 million dollars provided by the EDB under the framework agreement last year were used by us to finance trade contracts between Russia and Belarus,” said Konstantin Noskov, Director for Financial Institutions at Bank Saint Petersburg. “In particular, we have provided loans to companies engaged in export and import in the sphere of metallurgy and agriculture.”
“The increase in finance for the Russian bank has become possible after positive assessment has been given of its utilisation of the first US $10 million tranche which had been fully used to enhance foreign trade between Russia and Belarus,” confirmed Dmitry Krasilnikov, Managing Director (Corporate Finance) and Member of the EDB Executive Board.
The project is being implemented within the EDB’s programme to develop trade finance instruments and enhance mutual trade between the Bank’s member states.
Additional information
Bank Saint Petersburg is one of Russia’s largest regional banks. The bank operates in St. Petersburg, Leningrad Oblast, Moscow, Kaliningrad, and Nizhniy Novgorod. It has strong positions in all the key banking markets, including lending, securities, payment cards, cash services, foreign exchange, corporate and private banking, and interbank loans. Thanks to its clear strategy, comprehensive financial policy, and adherence to the values of business conduct, the Bank has established itself as a strong and reliable partner.
For additional information please visit https://www.bspb.ru/
