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Vneshtorgbank is to cooperate with the administration of the Krasnoyarsky Region

30 August 2004

At the end of August 2004 Vneshtorgbank, within the framework of current policies for the development of joint activities with the State organs of regions of the Russian Federation, signed a Cooperation Agreement with the Administration Council of the Krasnoyarsky Region.

Vneshtorgbank values highly the investment potential and industrial base of the Krasnoyarsky Region and within this Agreement intends to assist the further economical development of the region and through this continue the successful widening of the accumulated and long-term partner relations with the governing institutions and also with the large businesses of the Krasnoyarsky Region.  In accordance with the conditions set out in the Agreement, VTB will in particular participate in the realisation of the development programs of bases of industry branches which are of socio-economic importance to the region.

Providing businesses and organisation of the Krasnoyarsky Region with a wide range of high quality bank services and support of structural industrial objects has also been defined as one of the priority means of cooperation in this Agreement.  In this Agreement Vneshtorgbank will provide bank services to the Administration of the region, including export-import operations, and participation in the cultivation of the internal trade strategy of the Krasnoyarsky Region and the setting out the optimum plans for internal economic cooperation.

The Agreement also provides for the widening of VTB`s investment-banking service required by the Krasnoyarsky Region.  In particular, VTB will participate in the financing of valuable investment programs, and also will begin activities in financial consulting following the preparation of the economic basis of investment projects being realised by the Administration. 

The Agreement was signed by the Governor of the Krasnoyarsky Region - the Chairman of the Administrative Council of the Region - Alexander Khoponin and the President-Chairman of the Board of Vneshtorgbank - Andrey Kostin.

Vneshtorgbank has so far signed nearly 30 agreements with the Administrations of RF subjects and municipal formations.

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