Agreement with CITIBANK N.A. (US)

Vnesheconombank and Citibank N.A. (US) entered into an Agreement on Bank acceptances.

The Agreement was signed by Vnesheconombank Deputy Chairman Sergey Lykov and Citibank Managing Director Natasha Ansell.

The Agreement provides for raising funds to finance export and import transactions conducted by Vnesheconombank’s customers for thirty-day periods and multiples thereof and a maximum period of transaction may not exceed 180 days.

Under the Agreement, credit resources will be used to fund export-import contracts of Vnesheconombank’s customer companies.

Using this trade-financing instrument will enable the Bank to make its services more competitive and attract new customers to finance their trade transactions as well as help to promote business ties and cooperation between VEB and US financial institutions.

Citi is the leading multinational finance company servicing about 200 million customers’ accounts in more than 100 countries of the world. It provides a variety of products and services including services provided to natural persons, corporate and investment products, broker’s services in the securities market and services for capital management to its private customers, corporations, government companies and institutions.

Origin: Press office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 208-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru

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