On 21st September 2004, Sberbank and The Export-Import Bank of Korea signed the Interbank Export Loan Agreement for USD50m
Sep 20, 2004
The new agreement opens opportunities to finance the projects of Sberbank's clients for the delivery of products and services from Korea to Russia, involving credit funds of The Export-Import Bank of Korea, for a tenor up to 10 years.
The Agreement was signed by Sberbank's Chairman of the Board and CEO Andrei I. Kazmin and Chairman and President of The Export-Import Bank of Korea Dong-Kyu Shin.
The parties believe that this Agreement is an essential move in the promotion of Korean exports to Russia. Through beneficial co-operation between the two banks, the corporate clients of Sberbank will receive an additional tool to finance investment projects related to delivery of goods and services from the Korea.
Sberbank makes a point of developing co-operation with the Export Credit Agencies and foreign banks providing ECA covered finance in the countries that are Russia's major trade partners. The Agreement with The Export-Import Bank of Korea widens the range of Sberbank's banking products for financing long-term investment programmes of its clients on attractive terms for the Russian companies.
Sberbank's Press Service