Alfa-Bank creates a separate division for trade and project finance

The new division provides and honors letters of credit and guarantees for international trade operations. Alfa-Bank cooperates with international banks, investment funds, and export insurance companies, including insurance companies such as Hermes (Germany), MITI (Japan), EGAP (Czech Republic), CID (Slovenia), KUKE (Poland), MEHIB (Hungary), and BAEZ (Bulgaria). Eximbank (United States) also confirmed its intention to support short-term projects (up to five years).

The division offers financing for creating new manufacturing facilities, upgrading and modernizing current production processes, and broaden product lines. Through Alfa Leasing, leasing services are provided. Alfa-Bank will participate in syndication loans with international banks for large projects.

Alfa-Bank intends actively to participate in current projects of the World Bank, projects supporting large companies, residential development, and environmental improvement. Alfa-Bank currently is negotiating with TUSRIF for possible areas of cooperation.

Valeri Lukin comments, “By the end of the year Alfa-Bank intends to become a leader in trade and project finance. Our bank will actively promote these services in most of Russia’s regions thereby using its large branch network.”