Vnesheconombank Chairman Vladimir Dmitriev Participates in the 4th SCO Interbank Consortium Council Meeting
Vnesheconombank Chairman Vladimir Dmitriev participated in the 4th SCO Interbank Consortium Council meeting.
A Memorandum on the Basics of Partner Relations between the SCO Interbank Consortium and the Eurasian Development Bank (EDB) was initialed in the course of the meeting. The Memorandum is scheduled to be signed at a meeting of the SCO Heads of State Council on August 28, 2008.
The Memorandum aims to establish strategic partnership and promote mutually beneficial long-term cooperation between the two sides.
Under the Memorandum the two sides are considering possibilities of raising funds to finance mid and long-tem investment projects and export transactions.
Getting the EDB involved in implementing large-scale investment projects in SCO countries is in line with the SCO’s policies aimed at establishing business partnership with various institutions and entities of the Eurasian economic community.
The SCO Interbank Consortium was established on October 26, 2005. Its activity is designed to support regional economic cooperation. At the moment, it incorporates State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ the Kazakhstan Development Bank, the China State Development Bank, the Settlement and Savings Company (the Kyrgyz Republic), the Tajikistan National Bank”Amonatbank”and the Uzbekistan National Bank for Foreign Economic Affairs.
The EDB is an international financial institution. The EDB was founded on January 12, 2006 by the Russian Federation and the Republic of Kazakhstan to promote the development of market-oriented economy in the Eurasian economic community countries and bolster their sustainable growth.
Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 608-45-93, Fax: (495) 975-21-34
E-mail: press@veb.ru
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