Vnesheconombank and Roscosmos Start a New Stage of Cooperation on Projects in the Rocket –Space Sector
State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Federal Space Agency (Roscosmos) entered into an Agreement on Cooperation.
On behalf of Vnesheconombank the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and on behalf of Rososmos by its Head Vladimir Popovkin.

In accordance with Vnesheconombank’s main investment activity sectoral priorities set forth in the Memorandum on the Bank’s Financial Activity the Agreement provides for establishing strategic partnership and promoting long-term effective and mutually beneficial cooperation between the parties in implementing projects and programs in the rocket-space sector aimed at modernizing the Russian rocket-space complex including creating new space technologies, developing and manufacturing rocket-space equipment, upgrading land space infrastructures, retooling production facilities, increasing energy efficiency and energy saving in the space sector’s enterprises, using space activity results for national interests.
The Agreement’s implementation would help to boost exports of Russian high-technology products and services and promote cooperation ties between participants in international space activity.
State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ is a key instrument for pursuing government economic policy. Vnesheconombank’s activity is aimed overcoming economic growth infrastructure restrictions, increasing natural resources utilization efficiency, developing high-technology industries, implementing projects in special economic zones, environmental protection projects, supporting small and medium-sized enterprises, providing support for agricultural and industrial exports and services, among other things, in order to diversify national exports. Aircraft construction and rocket-space complex are key priorities of Vnesheconombank’s investment activity.
The Federal Space Agency is an authorized federal executive agency. The functions of the Agency include pursuance of the state policy and legal regulation, providing state services and administration of the state space assets, as well as management of the international cooperation in joint space projects and programs, the activities of rocket and space industry entities relating to military space technologies, strategic missiles. The Federal Space Agency is also responsible for overall coordination of the activities at the Baikonur space port.
Press Office of Vnesheconombank
Phone: +7 (495) 608-46-93 Fax; +7 (499) 975-21-34
E-mail: press@veb.ru
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