VEB and Deutsche Bank have financed a pig-breeding construction complex in Russia.

Deutsche has provided Rb814mn (approximately US$27mn) for the purchase of German machinery to be used in the complex. The facility has been covered by the German export credit agency Euler Hermes and has a tenor of seven years.

Further to this, Deutsche has also lent €70mn to VEB on a five-year basis, which will also go towards the complex in Russia’s Voronezh region, near the Ukrainian border.

The borrower is APK Agroeco, a Russian company. The total project value is Rb5.8bn (about US$193mn) and the facility will have a capacity of 42,000 tonnes of live pigs per year.