OREANDA-NEWS. December 21, 2011. Novikombank signed the framework agreement with Commerzbank AG, Germany in accordance with which Novikombank receives a credit line for mutual long-term structural and project financing for Novikombank’s corporate clients.

For clients of Novikombank the agreement provides medium- and long-term financing of goods and services delivered from Germany and other countries – members of the Organisation for Economic Co-operation and Development, under cover of the German export credit agency Euler Hermes as well as ECAs in other countries.

Elena Shirinskaya, Deputy CEO of Novikombank, stated that this agreement expand possibilities to finance the purchase of high-tech foreign equipment by Russian companies for modernization purposes.