OREANDA-NEWS. On March 19, in the course of Russian Prime Minister Mikhail Fradkov’s visit to the Republic of South Africa, Vnesheconombank and Standard Bank of South Africa (SBSA) signed an agreement on cooperation.

The Agreement aims to establish long-term partner relations in servicing trade and economic, investment scientific and technological cooperation between Russia and the Republic of South Africa, as well as in supporting and promoting national exports.

Under the Agreement the two sides are determined to promote cooperation in project financing including financing of investment projects designed to develop export-oriented industries of the two countries.

The Agreement also provides for working together in syndicated financing to boost bilateral trade.