OREANDA-NEWS. March 23, 2011. OJSC "Investtradebank" signed a loan agreement with Commerzbank AG, Germany and obtained a limit of EUR 10 mln., reported the press-centre of Investtradebank.

The credit line enables ITB to finance long-term transactions of its corporate clients involved in foreign trade activity under guarantees of European export-credit agencies. Geographical coverage is expected to expand in the future as Commerzbank establishes partner relations with ECAs in Asian countries.

In 2010 Commerzbank AG and AKA Ausfuhrkredit-Gesellschaft mbH co-financed the debut transaction for the delivery of equipment from Germany for ITB's client in Perm to the amount of EUR 4.1 mln. under Euler Hermes cover.

Mikhail Pavlov, the Deputy Chairman of the Management Board believes that signing of the agreement will result in new financing possibilities to be offered to ITB’s corporate clients. Expended financing of high-tech equipment imported from the leading European nations will allow Russian enterprises to streamline the production process.