OREANDA-NEWS. December 7, 2009. In the context of the official visit of Indian Prime Minister Manmohan Singh to the Russian Federation, state corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and Export-Import Bank of India signed a Framework Loan Agreement worth USD 100 million.

On behalf of Vnesheconombank, the document was signed by Vladimir Dmitriev, Chairman. Export-Import Bank of India was represented by Ravneet Kaur, Chairman and Managing Director.

Loan funds to be extended to Vnesheconombank will be used to finance equipment and service deliveries by Indian companies under investment projects implemented on the territory of the Russian Federation.

Signing and consequent implementation of the Agreement will further strengthen economic relations between the Russian Federation and the Republic of India.