OREANDA-NEWS. July 04, 2012. Sberbank of Russia and Oesterreichische Kontrollbank AG (OeKB), Austria’s official export credit agency, announced execution of a USD 100 million facility granted by OeKB in favour of Sberbank for 3 years to support availability of financing for Russian purchasers of Austrian goods and services, reported the press-centre of Sberbank.

Throughout the term of the financing, OeKB and Sberbank will coordinate activities, share information, and work with their respective customers towards the goal of increasing the volume of Austrian trade finance transactions in the Russian Federation.

During the signing ceremony, which took place in Vienna on June 25th, Andrey Ivanov, Head of Trade Finance and Financial Institutions commented: “Cooperation with OeKB offers new opportunities for Sberbank’s corporate clients, who are conducting business with Austrian companies. We believe that OeKB’s pro-active position in supporting Austrian exports will lead to notable results in increase of trade volumes between Russia and Austria in the nearest future.”

Ferdinand Schipfer, Head of OeKB’s Project Underwriting Department, complemented: “Sberbank is having a critical role in supporting the Russian Federation’s economy. By dint of this agreement, Austrian medium sized companies will be provided with a new avenue of financing. Russian buyers – apart from getting cutting edge technologies – will be able to benefit from the very favorable funding provided by the Republic of Austria to Sberbank. In short – a classical win-win situation.”