Sberbank and the EDB enter into a General Financing Agreement

07 June 2019

The agreement makes it possible for the EDB to raise funding in Russian roubles and foreign currencies in order to finance its clients’ foreign trade contracts.

St. Petersburg, ХХ June 2019. Sberbank and the Eurasian Development Bank (EDB) signed a General Financing Agreement at the St. Petersburg International Economic Forum. The document was executed by Anatoly Popov, Sberbank’s Deputy Chairman of the Management Board, and Andrey Krainiy, EDB’s Deputy Chairman of the Management Board.

The agreement makes it possible for the EDB to raise funding in Russian roubles and foreign currencies in order to finance its clients’ foreign trade contracts. The agreement will also solidify the parties’ long-term, mutually beneficial interaction relating to their joint foreign trade projects.

Anatoly Popov, Deputy Chairman of the Management Board at Sberbank:

The General Financing Agreement with the Eurasian Development Bank is a critical milestone in our cooperation, as it will help to build capacity for mutually beneficial, long-term interaction and marks a new stage in our relationships.

Andrey Krainiy, Deputy Chairman of the Management Board at the EDB:

This agreement is a new trade finance instrument for the EDB. The Bank will diversify the sources of funding for its clientsforeign trade contracts and focus them on trade between the EDB member states.

Additional Information:

Sberbank is Russia’s largest bank and a leading global financial institution. The bank accounts for a third of the Russian banking sector’s assets. It is also a key lender for the national economy and holder of the largest share of deposits in the banking market. The founder and majority shareholder of Sberbank is the Central Bank of the Russian Federation holding 50% of its share capital plus one voting share. The rest of the bank’s shares are held by international and Russian investors. Sberbank serves over 145 million clients in 22 countries. With around 15,000 branches and offices, it has the largest service network in Russia. The bank’s international network comprises subsidiaries, branches and representative offices in the UK, the US, the CIS, Central and Eastern Europe, India, China, Turkey, and other countries.

The bank holds General Banking Licence 1481 issued by the Bank of Russia.

Official websites: www.sberbank.com (Sberbank Group), www.sberbank.ru

Sberbank Press Centre:

Polina Trizonova, +7 (495) 957 57 21

media@sberbank.ru

https://twitter.com/SberbankMedia

The Eurasian Development Bank (EDB) 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. The EDB's charter capital totals US $7 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.

The EDB Media Centre:

Alexander Savelyev +7 (985) 765 23 59 (Moscow)     

Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)

Sergey Gorbachev +7 (916) 727 22 00 (Moscow)     

pressa@eabr.org

www.eabr.org

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