On December 23, 2002, a Cooperation Agreement between Vneshtorgbank and Russian Ministry of Railway Transport was signed. The Agreement calls for stronger cooperation of the Bank and the Ministry in implementing the state strategy in the sphere of railway transport.
Notably, the Agreement is designed to give a boost to the mutually reinforcing partnership along the following lines:
* raising long-term credits to finance projects and programmes launched by the Ministry, or organisations and enterprises operating within its infrastructure
* implementing the Ministry`s investment policy in the sphere of railway transport for the year 2003 and a longer period
* servicing export and import activities of the Ministry, or organisations and enterprises operating within its infrastructure
* implementing those federal and intergovernmental target programmes where the Ministry is involved
* implementing international agreements of the Russian Federation in the sphere of railway transport.
The Agreement was signed by Andrey Kostin, Vneshtorgbank President and CEO, and Gennady Fadeev, Minister of Railway Transport.