Vnesheconombank and Russia’s Ministry of Industry and Trade agreed on cooperation in industrial development

State corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and the Ministry of Industry and Trade of the Russian Federation (Minpromtorg) signed a cooperation agreement at INNOPROM-2016 International Industrial Trade Fair.

The Agreement was signed by Chairman Sergey Gorkov on behalf of Vnesheconombank and Minister Denis Manturov on behalf of Minpromtorg.

The parties have agreed to cooperate with a view to increasing the volume and quality of lending to businesses engaged in industry and high-tech exports.

Minpromtorg and Vnesheconombank intend to step up their concerted efforts to select investment projects on industrial construction and industrial infrastructure development, in particular, those aiming to boost exports and import substitution. In accordance with the Agreement, such projects may be delivered using a variety of mechanisms and financial instruments of both Vnesheconombank proper and its subsidiaries.

The parties have identified major areas of cooperation, which include creating a favourable environment for investment project finance and lending, attracting long-term financial resources into industry by means of the credit mechanism, etc.

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E-mail: press@veb.ru

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