The funds will go towards financing German and European exports to Russia over the next two years. Under the agreement export financings to Russia that are backed by export credit insurance (Hermes cover) can be financed via VEB, which can in turn refinance with KfW IPEX-Bank under the credit framework.
The aim is to facilitate financing for deliveries of investment goods to the Russian Federation which are experiencing financing difficulties owing to the current financial crisis. The funds will help to safeguard jobs in Germany's and Europe's export industry while also contributing to broadening the economic relations between Germany and Russia.
About KfW IPEX-Bank GmbH
Within KfW Bankengruppe KfW IPEX-Bank GmbH provides project and corporate financing as well as trade and export financing domestically and abroad. Worldwide it conducts all market activities of KfW Bankengruppe that are carried out on commercial terms. KfW IPEX-Bank GmbH has been operating as a legally independent subsidiary since 1 January 2008 and contributes significantly to the promotional mission of KfW Bankengruppe. It has approx. 490 employees (as of July 2009) and is represented in the key economic and financial centres throughout the globe.
About the State Corporation 'Bank for Development and Foreign Economic Affairs (Vnesheconombank)'
The State Corporation 'Bank for Development and Foreign Economic Affairs (Vnesheconombank)' was created in 2007 by means of reorganisation of Vnesheconombank of the USSR and acts in accordance with the Russian Federal Law On Development Bank. Vnesheconombank's priority is to promote the competitiveness of the Russian Federation's economy. The bank's activities are designed to modernise and boost the non-raw materials economy and high-technology industries as well as to stimulate innovations, infrastructure development and the export of high-tech products while also providing support for small and medium-sized enterprises.
Dela Strumpf | presseportal
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The building blocks of matter in our universe were formed in the first 10 microseconds of its existence, according to the currently accepted scientific picture. After the Big Bang about 13.7 billion years ago, matter consisted mainly of quarks and gluons, two types of elementary particles whose interactions are governed by quantum chromodynamics (QCD), the theory of strong interaction. In the early universe, these particles moved (nearly) freely in a quark-gluon plasma.
This is a joint press release of University Muenster and Heidelberg as well as the GSI Helmholtzzentrum für Schwerionenforschung in Darmstadt.
Then, in a phase transition, they combined and formed hadrons, among them the building blocks of atomic nuclei, protons and neutrons. In the current issue of...
Thin-film solar cells made of crystalline silicon are inexpensive and achieve efficiencies of a good 14 percent. However, they could do even better if their shiny surfaces reflected less light. A team led by Prof. Christiane Becker from the Helmholtz-Zentrum Berlin (HZB) has now patented a sophisticated new solution to this problem.
"It is not enough simply to bring more light into the cell," says Christiane Becker. Such surface structures can even ultimately reduce the efficiency by...
A study in the journal Bulletin of Marine Science describes a new, blood-red species of octocoral found in Panama. The species in the genus Thesea was discovered in the threatened low-light reef environment on Hannibal Bank, 60 kilometers off mainland Pacific Panama, by researchers at the Smithsonian Tropical Research Institute in Panama (STRI) and the Centro de Investigación en Ciencias del Mar y Limnología (CIMAR) at the University of Costa Rica.
Scientists established the new species, Thesea dalioi, by comparing its physical traits, such as branch thickness and the bright red colony color, with the...
Scientists have succeeded in observing the first long-distance transfer of information in a magnetic group of materials known as antiferromagnets.
An international team of researchers has mapped Nemo's genome, providing the research community with an invaluable resource to decode the response of fish to...
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