OREANDA-NEWS. On May 30, 2007 a meeting between Eric Siegel, President and CEO of EDC, and Alexander V. Dementiev, First Vice President of URALSIB Financial Corporation, was held at URALSIB's headquarters in Moscow, reported the press-centre of URALSIB.

The parties discussed the future prospects of interaction in financing Canadian exports to Russia and in syndication of the loans. Rod Lever, Chief Representative for Russia and the Commonwealth of Independent States, EDC, and Anton Zur, Head of Trade Finance, OJSC BANK URALSIB, attended the meeting.

The day before, Anton Zur spoke at a special seminar dedicated to the official launch of EDC's first permanent representation in Russia. In his speech he noted that the total amount of deals between the two entities reached USD 40 million since 2004. This includes three direct agreements of EDC with URALSIB Leasing Company for the amount of USD 4,7 million. EDC also provided a line of credit of USD 50 million to OJSC BANK URALSIB.

Export Development Canada (EDC) is Canada's export credit agency which provides innovative financing, insurance and bonding solutions to Canadian companies that export goods and services or invest in other countries. EDC operates in 200 markets worldwide, including 130 emerging markets.