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

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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