On Agreement between Vnesheconombank and OJSC Ilyushin Finance Co.

In the course of the International Aerospace Salon Max-2009 State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and OJSC Ilyushin Finance Co. (OJSC IFC)entered into an Agreement of Intent.

On behalf of Vnesheconombank the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev, on behalf of OJSC Ilyushin Finance Co. – by its General Director Alexander Rubtsov.

The Agreement aims to establish partnership and promote long-term, effective and mutually beneficial cooperation.

The parties intend to cooperate in raising funds to finance OJSC IFC’s high-priority investment projects as well as to develop joint sales strategies for Russian-made aircraft, including AN-148-100B aircraft, on the Russian and foreign markets with the use of leasing and export financing mechanisms.

Ilyushin Finance Co. was founded in1999 in cooperation with the Ilyushin Aviation Complex in order to finance supplies of Russian civil aircraft to domestic and foreign markets. In August 2001, the Company won the tender for receiving state support for leasing programs and since December 2001, the Russian Federation has been one of the largest shareholders of the Company.

Origin: Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608—46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

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