Japan Bank for International Cooperation (JBIC) has signed a memorandum of understanding for a potential buyer’s credit with North-West Telecom (NWT) based in St Petersburg, Russia.

This agreement will improve the processing required for the buyer’s credit, such as examination of NWT’s credit standing and discussions on loan conditions.

On completion, NWT will be the second Russian corporation to receive JBIC’s corporate risk-taking buyer’s credit, following Rostelecom.

With increasing demand for telecoms services in Russia, NWT and other domestic telecom operators have been investing in capacity expansion and new technologies – making the country a promising export and manufacturing market for Japanese firms.