The Military Commercial Joint Stock Bank (MB) has signed a credit limit agreement with Germany’s AKA Export Finance Bank to boost trade turnovers between Vietnam and other European countries, in general and Germany, in particular.

Under the inked agreement, AKA Bank will offer the military bank loans in US dollar or euro for funding the contracts of importing goods from Germany to Vietnam on the basic of credit insurance from Germany’s credit insurance provider of Hermes.

Under the limited credit, MB can offer funds of 85 percent of the total value at maximum for each import contract for trading goods from Germany to Vietnam, with loans value of at least 500,000 euro or $1 million.

The cooperation agreement between MB and AKA Bank will be considered as the basis for Hermes to approve the credit limit insurance for MB.

TBKTVN