EX-IM BANK AND RUSSIA'S VNESHECONOMBANK SIGN MEMORANDUM OF UNDERSTANDING
WASHINGTON, D.C. - The Export-Import Bank of the United States (Ex-Im Bank) and the State Corporation "Bank for Development and Foreign Economic Affairs" (Vnesheconombank) today signed a memorandum of understanding to cooperate in financing U.S. exports to Russia.
Vnesheconombank Chairman Vladimir Dmitriev and Ex-Im Bank Chairman and President Fred P. Hochberg signed the document at the U.S. Chamber of Commerce in Washington, D.C. during Russian President Dmitry Medvedev's visit to the United States for a summit meeting with President Barack Obama. The signing opened the U.S.-Russia Business Dialogue & Summit held at the Chamber, attended by President Obama, President Medvedev, U.S. Commerce Secretary Gary Locke and Russian Minister of Economic Development Elvira Nabiullina.
Under the memorandum, Ex-Im Bank and Vnesheconombank will work together in financing U.S. sales of medical equipment, energy efficiency equipment and other goods and services to support Russia¿s economic and technological growth, and U.S. exports and jobs.
"This memorandum strengthens the long-standing partnership between Ex-Im Bank and Vnesheconombank, and promotes the already high level of trade and economic cooperation between the Russian Federation and the United States," said Ex-Im Bank Chairman and President Fred P. Hochberg. "This agreement will support the growth of both our economies, while supporting U.S. jobs."
This information was obtain from Export Import Bank of the United States of America (Exim-bank).
Global Trade Insurance is a registered broker of Eximbank of U.S.A.
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