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Vneshtorgbank entered into a co-operation agreement with Rosmorport

5 May 2004

Vneshtorgbank and Rosmorport federal unitary enterprise made a statement today on entering into a co-operation agreement which was signed by Igor Zavialov, Executive Vice President and Deputy Chairman, for Vneshtorgbank, and Nikolai Negodov, Director General, for Rosmorport.

The Agreement envisages key lines of co-operation between Vneshtorgbank and Rosmorport. Under the Agreement, Vneshtorgbank, in particular, will render comprehensive banking services to Rosmorport and its branches, making loans, financing its investment projects and programmes, handling its foreign trade transactions, and rendering consulting and information services under joint projects.

Subject to the Agreement, VTB will take part in financing programmes intended for equipment modernisation, building of ice-breakers, construction and rehabilitation of trans-shipment complexes in seaports, technical retooling and navigation system development, as well as other projects designed by Rosmorport, including, capabilities of Vneshtorgbank to be used in handling international business and export-import transactions.

Jointly with Rosmorport, Vneshtorgbank has been already implementing a series of projects comprising banking services for employees of the company and issue of VTB corporate bankcard.

In addition, Vneshtorgbank is going to contribute to betterment and development of international and domestic payment system of the company, and implementation of up-to-date finance management technologies to achieve Rosmorport`s improved business efficiency.

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