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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