Agreement with CITIBANK N.A. (US)

28 april 2007 года
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Vnesheconombank and Citibank N.A. (US) entered into an Agreement on Bank acceptances.

The Agreement was signed by Vnesheconombank Deputy Chairman Sergey Lykov and Citibank Managing Director Natasha Ansell.

The Agreement provides for raising funds to finance export and import transactions conducted by Vnesheconombank’s customers for thirty-day periods and multiples thereof and a maximum period of transaction may not exceed 180 days.

Under the Agreement, credit resources will be used to fund export-import contracts of Vnesheconombank’s customer companies.

 Using this trade-financing instrument will enable the Bank to make its services more competitive and attract new customers to finance their trade transactions as well as help to promote business ties and cooperation between VEB and US financial institutions.

Citi is the leading multinational finance company servicing about 200 million customers’ accounts in more than 100 countries of the world. It provides a variety of products and services including services provided to natural persons, corporate and investment products, broker’s services in the securities market and services for capital management to its private customers, corporations, government companies and institutions.

 

 

Origin: Press office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 208-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru

 

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Vnesheconombank Signs Memorandum with Czech Export Bank and First Czech-Russian Bank

27 april 2007 года
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Today on April 27, in the course of Czech President Vaclav Klaus’ formal visit to Russia Vnesheconombank, the Czech Export Bank and the First Czech-Russian Bank signed a Memorandum of Cooperation to work out mechanisms for using instruments of international capital markets to expand cooperation in mutual investments.

The Memorandum was signed by Vnesheconombank Chairman Vladimir Dmitriev, First Czech-Russian Bank Chairman Roman Popov and Czech Export Bank General Director, Board Chairman Josef Tauber.

Under the Memorandum the financial institutions are determined to support long-term

investment projects through developing various forms of government-backed investment and other financial instruments used in international capital markets. Top priority is to be given to projects in such industries as power engineering, transportation, atomic engineering, gas processing, building materials, logistics and tourism. The two sides also intend to explore the possibility for establishing a special fund of qualified investors.

The signing and further implementation of the Memorandum aims to promote cooperation between Russian constituent entities and the Czech Republic in mutual investments.

 

Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: = +7 (495) 208-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru

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