OREANDA-NEWS. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Federal Agency for Commonwealth of Independent States Affairs, Compatriots Living Abroad, and International Humanitarian Cooperation (Russian Cooperation Agency) signed an Agreement on Cooperation to Promote National Interests of the Russian Federation in the Assistance in International Development (AID).

On behalf of Vnesheconombank the Agreement was signed by Chairman Vladimir Dmitriev and on behalf of the Russian Cooperation Agency – by Konstantin Kosachev.

The Agreement sets forth main lines and principles of cooperation between Vnesheconombank and the Russian Cooperation Agency as part of organizational and financial support for Russia’s participation in AID.

This Agreement’s implementation would assist in promoting Russia’s national interests in AID by way of funding supplies of industrial and agricultural products to recipient countries and implementing investment projects on their territories.

The Federal Agency for Commonwealth of Independent States Affairs, Compatriots Living Abroad, and International Humanitarian Cooperation (Russian Cooperation Agency) was established in 2008 to enhance ties with compatriots living abroad on a permanent basis and assist in their activities on expanding cultural, scientific and business cooperation with Russia. The Russian Cooperation Agency operates in AID under Presidential Decree dated May 8, 2013 № 476. Under this Decree one of the Russian Cooperation Agency’s lines of activity is to promote international cooperation on a bilateral basis.