OREANDA-NEWS. October 25, 2010. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and ING Bank N.V. (the Netherlands) entered into a Framework Credit Agreement.

This Agreement provides for extending credit resources to Vnesheconombank against export credit agencies’ insurance coverage.

Under the Agreement the credit line is to be used for financing projects aimed at developing the Russian economy by way of supplying equipment to the territory of the Russian Federation from European countries.

ING Group is a global company of Dutch origin with a history of 150 years. The Company provides a wide range of financial services including banking and insurance ones as well as services of trust management in more than forty countries of the world. In Russia the Group is represented by ING BANK (EURASIA) CJSC.