MDM Bank and JBIC sign loan agreement

The Japan Bank of International Cooperation (JBIC) has signed a US$50mn credit line with MDM Bank. The funds will be used to provide long-term financing to Russian companies importing Japanese machinery and equipment.

Under the terms of the agreement, JBIC will provide 60% of the sum, with the remaining 40% provided by Japanese commercial banks and secured by Nippon Export and Investment Insurance.

The agreement will help MDM offer new long-term financings to corporate clients with business agreements with Japanese manufacturers.