Alfa-Bank and The Export-Import Bank of Korea signed an amendment to an existing credit line agreement (The Relending Facility Agreement) which increases this facility from 50 to 80 million USD. The Korean bank provides this credit line to Alfa-Bank for the financing of Russian buyers of Korean goods, equipment and services for the period up to 10 years for the total amount of USD 80 million.

According to Maxim Topper, Senior Vice President, Head of International Banking and Financial Institutions Division of Alfa-Bank, this line is used to finance the purchase of capital goods and equipment as well as consumer goods, including cars, consumer electronics and chemical products. “Two years of our work under this facility agreement proved to be very efficient for our clients, especially for those in the domestic automotive manufacturing industry where we have supported 2 projects for the assembly of Korean cars in Russia. Full and timely utilization of the initial 50 million USD facility helped us secure additional credit capacity with The Export-Import bank of Korea”, — notified Maxim Topper.