OREANDA-NEWS. On 23 May 2007, within the framework of a visit by Russian President Vladimir Putin to Austria, VTB Bank signed a Memorandum of Cooperation with Raiffeisen Zentralbank Oesterreich AG, Austria, and a trilateral Memorandum of Understanding with Oesterreichische Kontrollbank AG (OeKB), an Austrian export credit agency, and VTB Bank (Austria) AG, Austria.

The agreement signed with Raiffeisen Zentralbank Oesterreich AG, Austria provides for further cooperation in the sphere of debt and trade finance, as well as in joint efforts to raise funds for financial institutions and corporate customers of Russia, other CIS countries and Europe.

The Memorandum of Understanding with OeKB and VTB Bank (Austria) calls for enhanced cooperation in raising funds to support Austrian export to Russia and other CIS countries.