OREANDA-NEWS. In the course of Russian President Vladimir Putin's working visit to Italy Vnesheconombank and Export Agency SACE 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 Vnesheconombank the Memorandum was signed by Chairman Vladimir Dmitriev and on behalf of SACE - by Director General Alessandro Castellano.

The Memorandum is designed to enhance bilateral cooperation between SACE and VEB in selecting projects of mutual interest for the Russian and Italian parties.

The parties agreed to conduct Russian-Italian foreign trade transactions by way of exchanging expert evaluations and information, analyzing relevant projects and identifying potential mechanisms for funding them (lending, insurance, guarantee transactions).