OREANDA-NEWS.  January 30, 2012. State corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and Deutsche Bank AG, Frankfurt concluded loan agreements to finance a pig-breeding complex construction project in Voronezh region.

Deutsche Bank AG provided a 7-year facility of up to RUB 814 million, insured by the German export credit agency Euler Hermes, for financing of 85% of the German equipment supply contracts and up to 100% of the respective insurance premium. A 5-year, EUR70 million commercial facility was also raised by Vnesheconombank from Deutsche Bank.

In the current circumstances, raising long-term ruble facilities insured by Euler Hermes demonstrates that Russia’s national currency and Vnesheconombank enjoy foreign creditors’ confidence, this deal being another milestone in the further development of the Russian-German trade and economic relationship.

The project "Construction of a modern pig-breeding complex with a capacity of 42 thousand tons in live weight per year in Voronezh region" is implemented by “APK AGROECO” LLC. The total project value is RUB 5.8 billion, with Vnesheconombank’s commitment being RUB 4.6 billion.