Eurasian Bank of Development and Bank VTB (Russia) agree on cooperation
01.03.10 12:54
/KASE, March 1, 10/ - Eurasian Bank of Development, bonds of which are listing
on Kazakhstan Stock Exchange (KASE), provided KASE with a press release
dated February 26, 2010:
Quotation begins
Bank VTB and Eurasian Bank of Development signed a Cooperation
memorandum. On behalf of VTB the Memorandum was signed by Chairman
Andrey Kostin, and Igor Finogenov on behalf of Eurasian Bank of Development.
The memorandum is pursuing to strengthen partnership links between the two
companies in the interests of further long-term mutual cooperation and for
purposes of effective use of bank potential. In particular, the Memorandum
specifies the parties will finance joint projects, including under interstate
programs (in excess of USD50 m); arrange trade financing between large
producers and sellers; cooperate on financial markets, and in regard of
individual projects and clients.
VTB chairman Andrey Kostin said "the Eurasian area has a great economical
potential. This is why we are interested in long-term cooperation with the
Development Bank. The Memorandum is providing for joint operation in
investment projects aimed to develop infrastructure, increase of high tech
production with high value added, and creating new jobs. I am confident our
efforts will help economical development and integration of Eurasian countries".
Chairman of Eurasian Bank of Development Igor Finogenov said: "the projects of
the bank have helped a 7.5 % increase in investment between Russia and
Kazakhstan. We are in cooperation with largest national financial institutions
in the region and welcome the partnership with VTB. The projects considered
jointly with VTB are oriented at export and import deliveries of goods and
equipment produced in Russia and Kazakhstan, and, accordingly implementation
of the projects will help develop mutual trade and investment".
Reference:
Eurasian Bank of Development is an international organization, established in
accordance with the agreement between Russia and Kazakhstan on January 12, 2006.
In April and June 2009 Armenia and Tajikistan became members of the bank. The
charter capital is exceeding USD1.5 bn. Ratings, assigned to the bank by
international rating agencies - Standard and Poor's, Moody's Investors Service
and Fitch Ratings, correspond to or exceed sovereign ratings of states-members
of the bank.
The Bank is a strategic partner of the VTB Group in inter-bank transactions and
bond issue. In particular, in September 2009 VTB Capital acted as a co-arranger
of the issue of five-year Eurobonds of the Eurasian Bank of Development
for USD500 m. In November 2009 VTB Capital successfully acted as a joint
arranger of debt ruble issue of bonds of Eurasian Bank of Development
for RUR5 bn.
OAO Bank VTB
Press Service
Tel.: (495) 645-04-45
Fax: (495) 645-04-41
E-mail: mmm@eabr.org
www.eabr.org
Tel.: (495) 783-17-17
Fax: (495) 783-18-95
E-mail:pr@vtb.ru
www.vtb.ru
Press Service of Eurasian Bank of Development
Ends
[2010-03-01]