A Co-operation Agreement was entered into in Moscow on 20 June 2003 between Vneshtorgbank and Novorossiysk Sea Shipping company ("Novoship Inc.").
The Agreement is aimed at further gainful co-operation established between Vneshtorgbank and Novoship Inc.
Igor Zavialov, Executive Vice President and Deputy Chairman, for Vneshtorgbank, and Taguir Izmailov, President, for Novoship Inc., signed the Agreement.
Under the Agreement, Novoship Inc. regards Vneshtorgbank as a key financial institution to handle its cash flow, and it will invite Vneshtorgbank`s representatives for investment project appraisal.
In return, Vneshtorgbank will offer Novoship Inc. a full array of conventional bank services, including, financing for on-going business and investment projects.