Agreement Signed with Wachovia Bank National Association

10 april 2007 года
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Vnesheconombank and Wachovia Bank National Association (the U.S.) signed a Credit Agreement on providing funds (for a period of up to 1 year) to finance foreign trade transactions.

The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and by Wachovia Bank National Association Director Larisa Ostrovskikh.

Under the Agreement credit resources would be used to finance export-import companies-Vnesheconombank’s customers.

The Agreement opens up additional opportunities in trade financing and will promote business ties and cooperation between VEB and US financial institutions.

Wachovia Bank National Association is one the largest US financial institutions. Wachovia Bank National Association has about 100 branches in the US and an extensive network of branches and subsidiary banks abroad. By the amount of assets Wachovia Bank N.A. ranks 4th in the US and 36th in the world. As of 31.12.2006 the Bank’s assets amounted to 707 billion US dollars, the Bank’s capitalization is 108 billion US dollars.  

 

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 Agreement with INTER RAO UES

9 april 2007 года
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Today, on April 9, Vnesheconombank and ZAO INTER RAO UES signed an Agreement on General Principles of Financing Projects in power engineering.

The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and by INTER RAO UES General Director Evgeny Dod.

 The Agreement aims to establish strategic partnership and promote long-term, effective and mutually beneficial cooperation in financing projects carried out with direct participation of INTER RAO UES.

Under the Agreement Vnesheconombank and ZAO INTER RAO UES are determined to jointly carry out projects to purchase, modernize and build power engineering facilities both on the CIS countries’ territory and in other countries. In doing this, Vnesheconombank will act as a bank responsible for funding these projects and providing consulting services on optimizing economic and financial management of facilities to be purchased and built.

The Agreement is of great practical importance as Vnesheconombank’s participation in projects carried out by INTER RAO UES will make it possible to raise more funds to finance power engineering facilities and strengthen the Bank’s position in the Interbank Association of the Shaghai Cooperation Organization (SCO).

Furthermore, the new Agreement seeks to promote Russian companies’ economic interests abroad including in CIS and SCO coutries.

Vnesheconombank tends to act as a partner of Russian companies in carrying out projects with complicated financing structure and long payback periods abroad. 

ZAO INTER RAO UES is a vertically integrated power engineering company. The Company controls a number of power generating and distributing assets in Russia and abroad and is active in doing investment business. It plays a dominant role in exporting an importing electrical energy. ZAO INTER RAO UES represents the interests of the two largest players in the Russian energy sector, namely, RAO UES of Russia and Rosenergoatom, Concern, Federal State Unitary Company.

 

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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