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VTB signs partnership agreement with TsSKB-Progress

28 August 2013

VTB signs partnership agreement with TsSKB-Progress.

VTB and the TsSKB-Progress spacecraft research and development center have signed a partnership agreement at the 2013 MAKS International Aviation & Space Salon. Management Board member Valery Lukyanenko signed the agreement on behalf of VTB while CEO Alexander Kirilin represented TsSKB-Progress.

Under the agreement, VTB will provide full banking services to the company and its subsidiaries as well as financial support for the company’s projects within Russia’s Federal Space Programme. The bank is also prepared to consult its partner on banking, investment and finances.

Valery Lukyanenko noted that VTB is widely involved in many state aerospace programs, including collaboration with TsSKB-Progress, a leading spacecraft manufacturer.

TsSKB-Progress is one of Russia’s aerospace leaders. The company designs and manufactures the Soyuz midrange system used as the launch vehicle for manned and supply spacecraft to the International Space Station, satellites for remote Earth surveillance and spacecraft for other research and national security purposes, including those produced by TsSKB-Progress.

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