Gazprombank and EDB sign a Memorandum of Understanding and Cooperation
24 October 2012, Moscow. Gazprombank and Eurasian Development Bank (EDB) signed a memorandum of understanding and cooperation. The document was signed by Dmitry Zhurba, Deputy Chairman of the EDB Management Board, and Famil Sadygov, Deputy Chairman of the Management Board at Gazprombank.
The memorandum is aimed at strengthening partnership between Gazprombank and EDB for the purposes of further long-term and mutually beneficial cooperation and the efficient use of the banks’ potential.
The main issues covered by the memorandum are the financing of medium-term and long-term investment projects, the assistance in the fulfilment of targeted energy saving and energy efficiency programmes, the provision of trade finance for transactions between major producers and buyers, including pre-export and post-import financing of trade transactions, the cooperation in the financial markets in the framework of interbank relationships, and the participation in projects to develop small and medium-sized businesses.
Gazprombank’s Information Policy Department
Tel.: +7 (495) 719 15 50
Gazprombank (Open Joint-Stock Company) is one of Russia’s three largest banks in terms of all main indicators and one of the three largest banks in Central and Eastern Europe in terms of equity.
Gazprombank has investment grade credit ratings from Moody’s Investors Service: Baa3 for long-term foreign currency deposits, with stable outlook, and Baa3 for debt obligations. Standard & Poor’s has awarded the bank with a long-term counterparty credit rating and debt rating at BBB- with stable outlook.
Gazprombank has a large regional network, comprising 43 branches and three subsidiary Russian banks. It also holds interests in capitals of three foreign banks: Belgazprombank (Belarus), AREXIMBANK (Armenia) and Gazprombank (Switzerland) in Zurich (Switzerland).
Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital exceeds US $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. Read more at https://www.eabr.org.