OREANDA-NEWS. September 22, 2014. Sberbank and Bank for Development and Foreign Economic Affairs (VEB) signed a partnership agreement to support Russian exports during the International Investment Forum Sochi-2014.

 The document was signed by CEO and Chairman of the Board of Sberbank Herman Gref and VEB Chairman Vladimir Dmitriev.

The purpose of the agreement is to create a partnership and develop effective cooperation between the parties on projects that aim to strengthen the export potential of Russian manufacturers of high-tech and innovative industrial products.

The agreement will allow Sberbank and VEB to provide optimal financial solutions to strengthen the competitiveness of Russian companies on the global market, as well as expand the possibilities and geography of major projects that require heavy borrowing.

“The signing of this agreement is an important step in supporting Russian exports and import substitution,” said Herman Gref. “We understand the situation and the mission of our institutions for the Russian economy, and believe it is logical to combine the efforts of two leading banking institutions in order to develop optimal financial solutions that support and develop the export potential of Russian manufacturers.”