Eurasian Resources Group enters into a principal agreement with China's NFC to complete the construction of its project in Africa; EXIM and ICBC to support the financing, Sinosure to provide the insurance
Eurasian Resources Group and Sberbank of Russia expand its successful cooperation
The agreement reflects the parties’ deep mutual satisfaction with their collaboration over the last years and their intention to develop the long-term strategic cooperation.
One of the key provisions of the agreement is to consider options for extending the schedule of payments on the company’s liabilities for a six-year period.
ERG will have an opportunity to apply new technologies from a wide range of financial and advisory services in the sphere of investment and finance. The Bank is ready to develop customized solutions and terms of service on arm’s length terms taking into account the nature of the company’s business and in case the company implements new business development projects.
Commenting on the signature of the agreement, Alexander Machkevitch pointed out:
"Sberbank of Russia has been a major partner of Eurasian Resources Group for a long time, and all these years they demonstrate the highest standards of the comprehensive banking service. The continuation and expansion of this cooperation is based on a high level of mutual trust. The agreement is a proof of a positive development of the company’s business and is an important step towards further improvement of financial sustainability and efficiency of ERG as a Group which continuously improves its management practices and tools."