Russia’s Vnesheconombank (VEB) has signed a €48mn (US$64mn) loan with Deutsche Bank and Euler Hermes to onlend to German exporter Wehrhahn.
The seven-year loan consists of a €13mn Hermescovered portion and a commercial loan of €35mn.
The funding will be used to build a low-height housing complex in Russia.
Wehrhahn specialises in the design, manufacture and supply of industrial plants for the production of construction materials.
