OREANDA-NEWS. September 25, 2009. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and Bayerische Landesbank (Germany) signed a Framework Credit Agreement.

The agreement envisages the possibility of raising credit resources by Vnesheconombank in order to finance supplies of equipment and/ or services from Germany and other Organisation for Economic
Co-operation and Development (OECD) member states to the Russian Federation for the purpose of implementing projects aimed at Russian economic development.

Conclusion of the Framework Credit Agreement is a clear demonstration of high level of Russian-German economic cooperation, as well as both bank’s intention to further bolster partnership relations.