YEREVAN, December 25. /ARKA/. GazPromBank and the Japan Bank for International Cooperation (JBIC) have signed a framework agreement about extension of 500 million to the Russian credit organization in loan, RBC reports citing GazPromBank.

JBIC is to extend 300 million dollars with the remaining amount to be provided by co-financing private donors, if Nippon Export and Investment Insurance (NEXI) is obtained, press service of GazPromBank reported.

The agreement will allow the Russian bank offering Japanese equipment mid-term and long-term loans, both in yens and dollars, under more flexible and advantageous conditions, according to the report.

GazPromBank open joint stock company was founded in 1990 and is one of the top three Russian banks with largest net assets. It holds shares in three foreign banks – Belgasprombank (Belarus), Areximbank – GazPromBank Group (Armenia) and Gazprombank (Switzerland) Ltd. It has representative offices in Beijing (China), Ulan-Bator (Mongolia) and New-Deli (India). Net profit of the bank totaled 20.1bln rubles in the first nine months of 2012.–0--