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Vneshtorgbank and Attijariwafa bank sign a Cooperation Agreement

5 September 2006

On 5 September 2006, on the eve of a visit by Russian President Vladimir Putin to the Kingdom of Morocco, Vneshtorgbank entered into a Cooperation Agreement with Attijariwafa bank, Morocco.

The Agreement is designed to enhance mutually rewarding partnership between Vneshtorgbank and Attijariwafa bank in order to facilitate banking services underpinning foreign trade turnover between the Russian Federation and the Kingdom of Morocco. In particular, the Agreement provides for stronger cooperation in trade finance, investment support and export enhancement; a further boost is also expected in cooperation in capital market. It`s of note that this is the first document of this kind signed between the banks of Russia and Morocco.

For reference:
Attijariwafa bank is the largest bank of Morocco. As of 31 December 2005, the bank`s own capital approximated USD208 million, with its assets approaching USD13billion.

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