Vnesheconombank and OJSC Russian Railways Enter into Agreement

Today, on April, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and OJSC Russian Railways entered into an Agreement on Cooperation.

The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and OJSC Russian Railways President Vladimir Yakunin.

The Agreement aims to establish and promote long-term and mutually beneficial cooperation in implementing joint investment projects. Top priority is to be given to developing infrastructure of main transport directions as well as to renovating and upgrading rolling stock.

Under the Agreement, the two sides intend, among other things, to explore the possibility of financing projects by Vnesheconombank through extending long-term credits and granting guarantees against investment projects provided that they are in line with Vnesheconombank’s Memorandum on its Financial Policy. The Agreement also allows for Vnesheconombank to provide consulting services to OJSC Russian Railways on issues of implementing investment projects.

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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