OREANDA-NEWS. In the course of the International Aviation and Space Salon (MAKS 2015), Vnesheconombank and JSC Kronstadt signed an agreement on cooperation.

On behalf of Vnesheconombank, the agreement was signed by First Deputy Chairman - Member of the Board Andrei Sapelin and on behalf of JSC Kronstadt - by Director General for unmanned aircraft complexes Nikolai Dolzhenkov.

The parties have agreed to cooperate in doing research and development in the interests of the country's defense and the state's security related to a high risk of achieving qualitatively new results in technical, technological and socio-economic sectors.

The cooperation is expected to result in research and development work on creating innovative solutions, which will form the basis for developing and manufacturing high technology products in the unmanned aircraft complexes sector.

Under the Memorandum on VEB's financial policy, Vnesheconombank participates in implementing investment projects aimed at developing innovations. Aviation industry and rocket and space complex are one of the Bank's investment activity top priorities.

State Corporation "Bank for Development and Foreign Economic Affairs (Vnesheconombank)" operates to enhance competitiveness of the Russian economy, diversify it and stimulate investment activity.

Vnesheconombank funds major investment projects designed to remove economic growth infrastructure restrictions. VEB does not compete with commercial credit institutions and participates only in those projects that cannot receive funding from private investors.

The Kronstadt Group comprises a number of Russian companies - leaders in developing and manufacturing high technology products for the Russian market to ensure Russia's technological security. The Kronstadt Group invests in developing innovation companies with intellectual and engineering potential as well as with production resources for manufacturing products and creating solutions for such key sectors as aviation industry, air traffic operation, navigation and communications, defense and national security, environmental protection, prevention of emergency situations, production, processing and transportation of mineral resources, vocational technical training, youth military-patriotic education.