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Friday, January 18, 2019

Sberbank, Tekhnopromexport sign agreement of intent with Invest AD

Sberbank, the largest bank in Russia and Eastern Europe, Tekhnopromexport, part of the state corporation Russian Technologies, and the Abu Dhabi Investment Company recently signed a three-party agreement of intent to begin cooperation in North Africa and the Middle East.

Sberbank and Invest AD will organize the funding for Tekhnopromexport projects in energy, oil and gas, and infrastructure.

The cooperation agreement was signed in Abu Dhabi during the annual summit of the St. Petersburg International Economic Forum and the Federation of Chambers of Commerce of the United Arab Emirates.

"Russian Technologies and JSC Technopromexport are the largest customers of Sberbank. Within the Bank's international development strategy for 2018 we set a task for ourselves to be able to provide our customers with the services they demand anywhere in the world. Our strategic partnership with the Invest AD will contribute to the implementation of these plans in this important region," Alexander Dementyev, the head of the financial institutions division of Sberbank, said.