Promsvyazbank signs loan with Nordic Investment Bank

Promsvyazbank has signed a €30mn credit agreement with Nordic Investment Bank.
Under the terms of the agreement it can draw down funds with tenors of up to seven years from the bank to finance Russian investment projects that incorporate either commodities or services sourced from Scandinavia or the Baltic States.

The funds can be used to cover related expenses, such as import duties, taxes and construction costs.

"This agreement with Nordic Investment Bank will allow Promsvyazbank to increase long-term financing for its corporate clients with business links to the Scandinavian and Baltic countries,” comments Artem Konstandvan, Promsvyazbank's first vice-president.