OREANDA-NEWS. October 9, 2007. VTB and JSC INTER RAO UES have entered into a Cooperation Agreement aimed at establishing and developing a long-term mutually beneficial partnership for implementation of international projects in the power sector.

For VTB, the Agreement was signed by its President, Chairman of the Bank's Board Andrey Kostin; for JSC INTER RAO UES, by the company's Chief Executive Officer Evgeniy Dod.

Under the Agreement, JSC INTER RAO UES will use VTB as a major provider of banking services. In addition to providing standard services, VTB will be involved in financing day-to-day operations and investment projects of INTER RAO UES including the involvement of foreign financial institutions, as well as act as a preferred partner for arranging loans in the Russian and international markets.

VTB and JSC INTER RAO UES are looking into the possibility of involving the Bank and its financial subsidiaries in financing the company's investment projects to upgrade the existing and develop new power assets in the RF and abroad.