OREANDA-NEWS. In the course of the International Conference “Sustainable Growth through Long-Term Investments” State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and Banco de Inversion y Comercio Exterior S.A. (BICE) signed a Memorandum of Understanding.

On behalf of Vnesheconombank the Memorandum was signed by Chairman Vladimir Dmitriev and on behalf of BICE – by President Mr. Mauro Alem.

The Memorandum is aimed at establishing a long-term partnership in trade and project finance.

In accordance with the provisions of the document parties have agreed on cooperation related to investment project implementation. Projects aimed at development of social economic infrastructure, including transport and energy, at ecological effect and sustainability, development of small and medium size enterprises as well as export financing are given top priority.

Moreover, parties have agreed upon hosting a number of events aimed at exchange of experience and information related to banks’ main activities.

Banco de Inversion y Comercio Exterior S.A. (BICE)) is a state owned banking institution established in 1992 and specializing in medium and long term production investment and foreign trade loans. Main focus of BICE is fostering of production investment and development of foreign trade activities.