Press Release, 19.03.2007
Toady, on March 19, in the course of Russian Prime Minister Mikhail Fradkov’s visit to the Republic of South Africa, Vnesheconombank and Standard Bank of South Africa (SBSA) signed an agreement on cooperation.
The Agreement was signed by Vnesheconombank First deputy Chairman Nikolai Kosov and SBSA President Ben Kruger.
The Agreement aims to establish long-term partner relations in servicing trade and economic, investment scientific and technological cooperation between Russia and the Republic of South Africa, as well as in supporting and promoting national exports.
Under the Agreement the two sides are determined to promote cooperation in project financing including financing of investment projects designed to develop export-oriented industries of the two countries. The Agreement also provides for working together in syndicated financing to boost bilateral trade.
New agreements would expand cooperation between Russia and the Republic of South Africa and allow the two sides to develop programs of pre-export and export financing and create favourable conditions for carrying our major joint investment projects in Africa.
Standard Bank of South Africa is the largest financial institution in the Republic of South Africa. SBSA has about 1000 branches in the Republic of South Africa and runs an extensive network of branches and subsidiary banks abroad. By the amount of assets, SBSA holds first place in the Republic of South Africa and 162-nd place in the world.
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
Press Release, 14.03.2007
Today, on March 14, in the course of Russian President Vladimir Putin’s visit to Italy, Vnesheconombank and Mediobanca signed a credit agreement worth 122 million euros using SACE’s insurance guarantee.
The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and by Mediobanca Deputy General Director Massimo Di Carlo.
Under the Agreement credit resources would be used to finance a major infrastructural project aimed at constructing Ramenskoe logistics terminal in the Moscow region.
This project is to be viewed in the context of VEB’s participation in carrying out major infrastructural projects, which is one of the main tasks undertaken by a National Development Bank to be established on VEB’s basis.
The Ramenskoe logistics center is planned to be a main hub to transport cargoes both through the European part of Russia and to the Urals, Siberia and Kazakhstan. A range of cargoes is to include household appliances, food, flower, agricultural and other Russian-made products.
The Ramenskoe logistics terminal will incorporate a Flower Exchange being modeled on the Dutch Flower Auction that has no analogues in Russia.
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