Vnesheconombank and Caixa Geral de Depositos S.A Sign Agreement

25 october 2007 года
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Today, on October 25, within the framework of the Round Table Discussions of Russian and EC industrialists the State Corporation “The Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and Caixa Geral de Depositos S.A. (CGD) entered into an Agreement on Cooperation in Lisbon. The Agreement was signed to build on the Memorandum of Understanding made by the Russian Finance Ministry and the Finance Ministry and Public Administration of the Portuguese Republic, Memorandum of Understanding on Promoting Trade and Economic Cooperation between Russia and Portuguese.

The Agreement was signed by Board member, Deputy Vesheconombank Chairman Sergei Vasiliev and CGD Executive Director Norberto da Rosa.

The Agreement aims to establish partner relations in investment sector and in trade, pre-export and project financing.

The two sides are prepared to cooperate in exporting goods and services, extending credits and carrying out joint investment projects on the territories of both countries.

Under the Agreement financial institutions are determined to expand cooperation in such sectors as power engineering, coal mining industry, shipbuilding, aircraft construction, and to support infrastructure projects as well as environment protection projects.

The Agreement is to expand stable economic and financial ties between Russian and Portuguese.

CGD is the largest Portuguese state-run bank, it occupies first place in the country in terms of total assets. The bank was founded in 1876. Long-term credit ratings: Moody’s – Aa1, Standard and poor’s – A+, Fitch Ratings – AA-.

 

Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 608-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru

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Framework Credit Agreement with BNP Paribas Signed

24 october 2007 года
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Today, on October 24 the State Corporation “The Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and French Bank BNP Paribas signed a Framework Agreement on Extending a Credit Line in the amount of 300 million euros (or its US dollar equivalent).

The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and BNP Export Financing Director Michel Pique.

Under the Agreement, funds to be made available within the credit line could be used to finance purchases of Western European goods and services by Russian importers, with insurance coverage of the credit being provided by leading European export-credit agencies.

The signing of the Framework Agreement with BNP Paribas opens up ample opportunities for promoting multilateral Russian-French cooperation by carrying out major investment projects on the territory of the Russian Federation and would help boost trade turnover between the two countries.

BNP Paribas is one of the largest international financial institutions with a branch network in 85 countries. According to Global 2000 Forbes’ 2007 the Bank occupies sixth place among leading financial institutions in the world and first place among the largest French companies. Long-term credit ratings: Moody’s – Aa2, Standard & Poor’s – AA, Fitch Ratings – AA.

The State Corporation “The Bank for Development and Foreign Economic Affairs (Vnesheconombank)”is one of the key instruments of government investment policy. The Bank’s activity is aimed at overcoming infrastructure growth restrictions, modernizing and developing non-raw materials sector, high-technology industries, encouraging innovations and exports of high-technology products, carrying out projects in special economic zones, environment protection projects and supporting small and medium-size business.

 

Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 608-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru

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