OREANDA-NEWS. November 26, 2012. Sberbank and the European Investment Bank (EIB) have signed a joint statement of cooperation. The document has been signed by Herman Gref, CEO and Chairman of the Management Board of Sberbank, and Werner Hoyer, President of the European Investment Bank, reported the press-centre of Sberbank.

The agreement secures cooperation between Sberbank and EIB, including in particular, the establishment of relations at the global level, improvement of the access for SMEs and mid-cap companies to long-term finance, environmental and infrastructure projects, further financing of the subsidiaries of Sberbank – Sberbank Europe (formerly VBI) and DenizBank.

EIB President Hoyer stated: “EIB and Sberbank are pooling their expertise and financial resources to cooperate in areas of mutual interest in their common regions of operation. We have agreed to work jointly towards facilitating the financing of SMEs and fostering climate action projects in the countries in which both our institutions are operating”.

Herman Gref stated: “It is no coincidence that the European Investment Bank signed a statement on cooperation with Sberbank, which is transforming into a transnational bank with a strong presence in Europe. I am certain that the agreement will become the basis for further development of global relationships between Sberbank and EIB”.