OREANDA-NEWS. Sberbank and the Industry Development Fund have signed an agreement on cooperation at the Sochi-2015 International Investment Forum. The document was signed by Svetlana Sagaidak, Sberbank's Senior Vice President, and Aleksey Komissarov, Director at the Industry Development Fund.

The subject of the agreement is the development of a strategic partnership between the bank and the fund in the long term.

"Sberbank actively favors the development of Russian industry and the present agreement enables us to do even more in this sector," said Svetlana Sagaidak. "One of the main objectives of the agreement is to create favorable conditions for sustainable industrial development, as well as work out and realise joint programmes and projects on production funding in the industrial sector."

"The agreement secures key areas of cooperation on a wide range of subjects, from getting expert advice on investment projects to using the special programme tools of Sberbank which enable the borrowers to control the lending purpose of the Fund's resources," said Aleksei Komissarov.

Sberbank signs agreements in electronic format using the digital signature through the e-invoicing system for the first time at the Forum Sochi-2015.

The Industry Development Fund was founded in order to modernize Russia's industrial sector, organize new industrial enterprises and provide import substitution. The Fund was launched in 2014 following the initiative of Russia's Ministry of Industry and Trade to transform the Russian Foundation for Technological Development.