12.05.2008 /Operations
 On agreement signed by Vnesheconombank, Sumitomo Mitsui Banking Corporation and Sumitomo Mitsui Banking Corporation Europe Limited
Today, on May, 12, 2008, state corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, Sumitomo Mitsui Banking Corporation (‘SMBC’) and Sumitomo Mitsui Banking Corporation Europe Limited (‘SMBCE’) signed an Agreement on Cooperation in the area of implementing the Kyoto Protocol provisions aimed at formulating environment protection policy and preventing climate change. In line with the Agreement, it is envisaged to develop cooperation in selection, evaluation and preparation of projects, whose implementation will considerably contribute to creating a benign environment for devising, applying and fostering ecologically safe technologies. Also, the Document defines the parties’ commitments to jointly study and elaborate projects designed to reduce greenhouse gas emissions. Apart from it, the Agreement demonstrates the parties’ intentions to assess the respective risks and devise the most optimum schemes of financing and administering these projects, as well as to arrange the respective projects co-financing. Implementing the Agreement will enable Vnesheconombank to undertake practical steps on the international level to support and introduce the main innovation mechanisms, ensuring reduced environmental pollution, that were adopted in the Kyoto Protocol to the United Nations Framework Convention on Climate Change (UNFCCC). 
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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