VTB Bank and the EDB sign a cooperation agreement
St. Petersburg, 25 May 2018. VTB Bank and the Eurasian Development Bank (EDB) signed a cooperation agreement at the St. Petersburg International Economic Forum. The document was executed by Yuri Soloviev, First Deputy President and Chairman of the Management Board at VTB Bank, and Andrey Beliyaninov, Chairman of the Management Board at the EDB.
The parties agreed to cooperate in the area of infrastructure development and co-finance investment projects in various sectors. They will also continue work in other areas such as debt instruments, consultancy in capital markets, derivatives, and other financial instruments.
“Our banks have had a memorandum of understanding since 2010. It was its successful performance that has led us today to the signature of this agreement. The EDB and VTB have implemented several joint projects over this period. There is a host of infrastructure facilities built in the member states of our bank with joint funds, including those extended by the EDB and VTB. Now, we’ve got a wider set of instruments for cooperation,” Andrey Beliyaninov, Chairman of the EDB Management Board, stated.
“VTB and the EDB do have already successful experience in the joint implementation of large-scale investment projects in Eurasia. We believe that this region has considerable potential for further economic growth and development and hope that, in partnership with the EDB, we will continue to support interesting and economically important projects in the region,” Yuri Soloviev, First Deputy President and Chairman of the Management Board at VTB Bank, added.
Earlier, the EDB extended funds for Northern Capital Gateway, a consortium headed by VTB, to reconstruct, develop and operate Pulkovo Airport. The EDB also took part in financing the construction of the Western High-Speed Diameter road in St. Petersburg by Northern Capital Highway, another VTB-led consortium.
Additional Information:
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.
VTB Bank, its subsidiary banks and financial institutions (VTB Group) comprise an international financial group offering a wide range of financial and banking services in Russia, the CIS, Western Europe, North America, Asia, and Africa.
VTB Bank offers all types of banking services through its extensive regional network. The Group’s subsidiaries provide insurance, leasing, factoring and other financial services.
VTB Group has an international network of over 20 banks and financial companies in more than 20 countries around the world, which is unique for a Russian bank.
As of 31 March 2018, VTB Group was the second largest financial group in Russia in terms of assets (RUB 13,109.4 billion) and clients’ funds (RUB 9,333.3 billion).
The Government of the Russian Federation is VTB’s main shareholder holding 60.9% of its voting shares.
Read more at www.vtb.ru
Contacts:
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)
VTB Bank Press Centre:
Tel.: (495) 783-17-17
Fax: (495) 783-18-95
E-mail: pr@vtb.ru