KfW IPEX-Bank supports exports to Russia / EUR 500 million framework agreement signed

Frankfurt am Main (ots) - On the occasion of the German-Russian
intergovernmental consultations and in the presence of German
Chancellor Angela Merkel and Russian President Dmitry Medvedev KfW
IPEX-Bank today signed a framework loan agreement with the Russian
Vnesheconombank (VEB) for EUR 500 million.

The funds will go towards financing German and European exports to
Russia over the next two years. Under the agreement export financings
to Russia that are backed by export credit insurance (Hermes cover)
can be financed via VEB, which can in turn refinance with KfW
IPEX-Bank under the credit framework.

The aim is to facilitate financing for deliveries of investment
goods to the Russian Federation which are experiencing financing
difficulties owing to the current financial crisis. The funds will
help to safeguard jobs in Germany's and Europe's export industry
while also contributing to broadening the economic relations between
Germany and Russia.

About KfW IPEX-Bank GmbH

Within KfW Bankengruppe KfW IPEX-Bank GmbH provides project and
corporate financing as well as trade and export financing
domestically and abroad. Worldwide it conducts all market activities
of KfW Bankengruppe that are carried out on commercial terms. KfW
IPEX-Bank GmbH has been operating as a legally independent subsidiary
since 1 January 2008 and contributes significantly to the promotional
mission of KfW Bankengruppe. It has approx. 490 employees (as of July
2009) and is represented in the key economic and financial centres
throughout the globe.

About the State Corporation 'Bank for Development and Foreign
Economic Affairs (Vnesheconombank)'

The State Corporation 'Bank for Development and Foreign Economic
Affairs (Vnesheconombank)' was created in 2007 by means of
reorganisation of Vnesheconombank of the USSR and acts in accordance
with the Russian Federal Law On Development Bank. Vnesheconombank's
priority is to promote the competitiveness of the Russian
Federation's economy. The bank's activities are designed to modernise
and boost the non-raw materials economy and high-technology
industries as well as to stimulate innovations, infrastructure
development and the export of high-tech products while also providing
support for small and medium-sized enterprises.

Originaltext: KfW-IPEX-Bank
digital press kits: http://www.presseportal.de/pm/69662
press kits via RSS: http://www.presseportal.de/rss/pm_69662.rss2

Pressekontakt:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: dela.strumpf@kfw.de
Tel. 069 7431-2984, Fax: 069 7431-9409,
E-Mail: info@kfw-ipex-bank.de, Internet: www.kfw-ipex-bank.de