OREANDA-NEWS. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ entered into framework agreements on general terms of opening credit lines with OJSC Bank BelVEB (the Republic of Belarus) and Prominvestbank (Ukraine). The agreements were signed in the course of Vnesheconombank Group delegation’s working visit to the Republic of Belarus (the city of Minsk) and to Ukraine (the city of Kiev). The delegation was headed by Deputy Chairman Alexandr Ivanov.

On behalf of Vnesheconombank the agreements were signed by Deputy Chairman, Member of the Board Alexandr Ivanov and on behalf of Prominvestbank - by Chairman Viktor Bashkirov and on behalf of OJSC Bank BelVEB – by Board Chairman Pavel Kallaur.

These agreements determine general terms of opening credit lines by Vneshconombank in order to fund supplies of Russian industrial products (goods, works, services) to the Republic of Belarus and Ukraine.

Credit facilities are to be extended after the parties have signed individual credit agreements under the framework agreements within a limit to be approved by a relevant corporate governance body of Vnesheconombank. The parties expressed confidence that the agreements’ implementation would promote integration and expand export-import transactions.

One of the business trip’s goal was to present the state’s system to support Russian export financing as well as export insurance support by the Export Insurance Agency of Russia (EXIAR, Vnesheconombank Group).

In the course of the visit Vnesheconombank Group’s delegation held talks with potential partner banks in the Republic of Belarus and Ukraine on identifying projects for potential funding.