OREANDA-NEWS. Vnesheconombank, the Czech Export Bank and the First Czech-Russian Bank signed a Memorandum of Cooperation to work out mechanisms for using instruments of international capital markets to expand cooperation in mutual investments.

Under the Memorandum the financial institutions are determined to support long-term investment projects through developing various forms of government-backed investment and other financial instruments used in international capital markets.

Top priority is to be given to projects in such industries as power engineering, transportation, atomic engineering, gas processing, building materials, logistics and tourism. The two sides also intend to explore the possibility for establishing a special fund of qualified investors.