OREANDA-NEWS. September 26, 2011. Within the framework of the World Bank - IMF Annual Session in Washington (USA), State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and financial development institutions of Brazil, Canada, China, Germany, Mexico, France and India concluded a Memorandum of Understanding to establish the Montreal Development Institutions Forum.

For and on behalf of Vnesheconombank, the Memorandum was signed by Mikhail Kopeikin, Member of the Board – Deputy Chairman.

The major goal of the Memorandum is promoting Micro-, Small- and Medium-sized Enterprises (“MSME”) and providing a global collaborative platform where the Members can share and exchange best in class knowledge and information on important MSME-related topics.

In the opinion of the Forum participants, multilateral cooperation within the framework of the Forum will enhance the quality of services provided by the development institutions to global standards.

The establishment of the Montreal Development Institutions Forum was initiated by Business Development Bank of Canada.