On 12 April 2006, a delegation headed by VTB Chairman and CEO Andrey Kostin visited Nizhny Novgorod.
During the visit, Andrey Kostin met the Governor of the Nizhny Novgorod Region Valery Shantsev, where current interplay between Vneshtorgbank and the Regional Government under the bilateral co-operation agreement was discussed. The Agreement signed in December 2005 pursues top priority tasks aimed at social and economic development of the region. Both parties reaffirmed their willingness to continue joint efforts towards target programme implementation oriented to enhance efficiency of the regional economy, and development of small and medium-sized businesses and entrepreneurship. Among other things, Andrey Kostin and Valery Shantsev discussed the way the VTB-supported federal and regional programmes to support agribusiness are implemented, outlook for a Vneshtorgbank's prospective participation in a bonded debt issue by Nizhny Novgorod Government and in financing the regional transport infrastructure.
Within the framework of the visit, Andrey Kostin also met Alexander Konovalov, representative plenipotentiary of the Russian President in Cis-Volga Federal District. The discussion focused on increased VTB presence in a most developed and most investment attractive region nation-wide. It was emphasised that Vneshtorgbank expansion in the district meets vested interest of the bank and its customers, as well as long-term goals towards accelerated social and economic development of Cis-Volga Federal District.