OREANDA-NEWS. As part of Group of Twenty (G20) financing development institutions events, VEB and Cassa Depositi e Prestitiinto a Memorandum of Understanding in the city of Rome.

On behalf of Vnesheconombank, the Memorandum was signed by Chairman Vladimir Dmitriev and on behalf of the Italian Development Bank - by President Franco Bassanini.

The two parties have agreed to cooperate in implementing projects in infrastructure, sustainable development, exports promotion, working together on capital markets as well as sharing business experience and information.

A similar document was signed between the development institutions of Italy and Russia in February of 2011 in the city of Rome. The document expired in December of 2013.

Cassa Depositi e Pestiti (CDP) is an Italian development institution created in the form of a joint stock company under government control with an authorized capital of 3.5 billion euros: the Italian Government's stake is 80.1% of capital, 18.4% is owned by a wide group of banks and financial holdings, the remaining stake of 1.5% is comprised of treasury shares. CDP is responsible for managing the most part of Italian citizens' savings placed in postal-savings that form the main source of funding for CDP. CDP plays a key role in supporting the Italian economy and government enterprises. Like Vnesheconombank, it is a member of the Long-Term Investors Club.