Russia / Export Credit Line for UniCredit Bank

Nippon Export and Investment Insurance (NEXI) has agreed on an export credit line✽ with Joint Stock Company UniCredit Bank (UniCredit), a commercial bank operating in the Russian Federation.

The credit line will be offered to UniCredit in the form of co-financing equivalent to up to USD240 million by Japanese commercial banks and Japan Bank for International Cooperation (JBIC), and NEXI will set up a credit line totaling up to USD 120 million to provide a loan insurance for the financing extended by the Japanese commercial lenders.

By using the export credit line, UniCredit will provide medium- and long-term loans to local enterprises in Russia and some CIS countries such as Republic of Azerbaijan, Republic of Belarus, Republic of Kazakhstan, Turkmenistan and Republic of Uzbekistan. The loans will be used to import Japanese machinery and equipment. This is the first time that NEXI has set a credit line for a commercial bank in Russia.

As a Japanese official export credit agency, NEXI will continue to provide financial support for Japanese companies' business in Russia through its project arrangements and risk-taking functions by using a wide variety of financial tools such as export credit line.

✽　Export credit line is a form of export finance in which a certain amount of credit limit is established to promote export of Japanese goods and equipment.