OREANDA-NEWS. December 17, 2012. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and HSBC Bank Plc (HSBC) signed another individual credit agreement as part of funding the project aimed at producing and processing meat cattle in the Bryansk region. The project is being implemented by LLC the Bryansk Meat Company.

Under the Agreement HSBC is to provide Vnesheconombank with credit resources in the amount of 150 million US dollars to fund advance payments under contracts of LLC the Bryansk Meat Company with a number of foreign cattle exporters and local expenses in 2012-2013 on a commercial basis for a period of 7 years.

On behalf of Vnesheconombank the agreement was signed by Deputy Chairman Alexandr Ivanov and on behalf of HSBC – by Global Head of Export Credit and Global Specialized Finance Peter Luketa.


This credit agreement is the third agreement to have been signed with HSBC on a commercial basis as part of implementing the project in the Bryansk region. All in all about 300 million US dollars have been raised from HSBC on a commercial basis.

HSBC  Holdings  plc, the parent company of the HSBC Group, is headquartered in  London.  The Group serves customers worldwide from around 6 900 offices in  84  countries  and  territories in Europe, the Asia-Pacific region, the Americas,  the Middle East and Africa. With assets of USD 2,652bn at 30 June 2012,  HSBC  is  one  of the world’s largest banking and financial services organizations.  HSBC  Group  operates in Russia through OOO HSBC Bank (RR). HSBC  Russia provides a wide range of corporate banking, investment banking and  financial markets products and services to corporate and institutional customers.