OREANDA-NEWS. In the course of Russian President Vladimir Putin's working visit to Italy Vnesheconombank and Mediobanca signed a Memorandum of Understanding. The Memorandum was signed in the presence of Russian President Vladimir Putin and Italian Prime Minister Enrico Letta as part of Russian-Italian summit interstate consultations underway in the city of Trieste.

On behalf of Vnesheconombank the Memorandum was signed by Chairman Vladimir Dmitriev and on behalf of Mediobanca - by Deputy Director General and Board of Directors Member Massimo Di Carlo and Managing Director Maria Luisa Cicognani.

The Memorandum of Understanding is aimed at expanding cooperation between the two banks in the field of Russian-Italian trade and economic activity including through providing funds by the Italian bank against insurance coverage of export insurance agency SACE as well as on a commercial basis. The parties also agreed to jointly implement public private partnership projects and cooperate in carrying out treasury operations.