OREANDA-NEWS. Sberbank of Russia and JSC The Agency for Housing Mortgage Lending (AHML) signed an agreement in order to develop a strategic partnership. On behalf of Sberbank of Russia the document was signed by Herman Gref, CEO, Chairman of the Executive Board and on behalf of AHML by Alexander Plutnik, CEO and Chairman of the Executive Board. The signing took place at Sberbank of Russia's stand during the 19th St. Petersburg International Economic Forum.

The agreement envisages the possibility of Sberbank of Russia financing the daily operations and projects of AHML, including the implementation of the programme "Housing for Russian Families". Cooperation will also involve using capital market instruments, the Bank's "payroll project" services, settlement and cash services, and other areas. Other important areas of cooperation include the provision of financial and advisory (investment banking) services and other types of services, including those offered by Sberbank CIB, the corporate and investment banking business of Sberbank Group.

The parties emphasised that the main aim of carrying out projects under the agreement is the provision of customised financial solutions and procedures for AHML that take into account the company's activities and the specifics and strategic importance of tasks that the Government of the Russian Federation sets for the company in order to create a single housing sector development institution.

However, specific deals will be regulated by separate agreements. This agreement does not prevent AHML from working with other banks or financial institutions.