OREANDA-NEWS. On 23 May 2007, VTB signed a framework credit agreement with Italian bank group Monte de Paschi di Siena.

Under the Agreement, the Group member-banks, namely, Monte de Paschi di Siena SpA, Banca Toscana SpA, and Banca Agricola Mantovana SpA shall open a credit line to VTB Bank amounting to EUR 100 million to finance export of Italian equipment and durables to Russia under insurance coverage of SACE, an Italian export credit agency.