Source Pravda.Ru

Moscow, London to finance projects in third countries together

Russia's Vneshekonombank /Foreign Trade Bank/ and the British Export Credits Guarantee Department signed an agreement on cooperation in London on Wednesday.

The agreement envisages cooperation in promoting projects involving Russian and British experts in third countries, including such sectors as export financing and provision of guarantees, the Russian Bank's press release reads.

The parties intend to carry out a joint assessment, preparation and approval of documents for the projects, as well as to conduct talks, for example, on technical aspects of their fulfilment. According to the agreement, the Bank and the Department will combine their efforts "to work out a joint strategy of action in complicated cases".

The document also stipulates that the Department will give British banks guarantees on projects with the share of Russian export deliveries not exceeding 15 per cent. These projects will not need any counter-guarantees from the Russian party.

It is the third agreement on support to Russian non-raw materials exports that the Vneshekonombank has signed with foreign state financial institutions, the press release reads. Earlier, it signed similar agreements with France and Germany.

The new agreement will give Russia a potential opportunity to participate in realising projects in Iraq, banking and foreign trade experts believe.

© &to=http://www.rian.ru' target=_blank>RIAN

Comments
Russia considers pulling out from Council of Europe
53 million Russians may lose their jobs within a few years
International Peace Day: We demand Peace!
NATO to strike Russia through Suwalki Corridor
NATO to strike Russia through Suwalki Corridor
How Russia can respond to Israel following Ilyushin Il20 shootdown
NATO's 5,000 warplanes ready to bomb Russia, Chinese media say
Russia sees Israel as enemy after Il-20 shootdown
Can Russia oppose coalition forces in the Mediterranean?
Can Russia oppose coalition forces in the Mediterranean?
Can Russia oppose coalition forces in the Mediterranean?
NATO to strike Russia through Suwalki Corridor
Russia considers pulling out from Council of Europe
NATO to strike Russia through Suwalki Corridor
Russia to abandon the US dollar at common people's expense
Russia to abandon the US dollar at common people's expense
On the verge of war: NATO tries to take over former Soviet states
On the verge of war: NATO tries to take over former Soviet states
On the verge of war: NATO tries to take over former Soviet states
On the verge of war: NATO tries to take over former Soviet states
Russia considers pulling out from Council of Europe