OREANDA-NEWS. During the St. Petersburg International Economic Forum, the City of St. Petersburg and Sberbank of Russia signed a strategic partnership agreement. The document was signed by Herman Gref, CEO, Chairman of the Executive Board of Sberbank of Russia and Georgy Poltavchenko, Governor of the City of St. Petersburg.

The agreement sets out the parties' areas of cooperation on financing for the socio-economic development of St. Petersburg as a city for life, work and relaxation, as well as a centre for international business, industry and tourism. The agreement has a special focus on implementing potential investment projects throughout the city. In addition, it covers cooperation for an information and consulting based exchange in the areas of innovation and education in order to minimise the expenses of the city's businesses and increase the level of financial literacy of its inhabitants, including young people and representatives of small business.

"The signing of this agreement with the Government of St. Petersburg takes our cooperation to a new level. By moving in the same direction and introducing innovative solutions for various areas of St. Petersburg's socio-economic development, we are able to not only efficiently help realise the city's strategic development projects, but also have a positive influence on the modernisation of Russia as a whole, its economy and wellbeing of its citizens," commented Herman Gref, CEO, Chairman of the Executive Board of Sberbank of Russia.

A number of joint work teams are being set up to ensure effective cooperation with the Government of St. Petersburg in various fields.

"Sberbank of Russia is one of the country's largest banks, and continues to be a reliable partner for St. Petersburg. The bank helps us carry out vital economic and social programmes and implement key investment projects aimed at creating a comfortable urban environment and increasing the quality of life of the city's residents. Today's agreement paves the way to realising new joint opportunities," commented Georgy Poltavchenko, Governor of the City of St. Petersburg.

There are 345 Sberbank offices in the northern capital and a network of self-service equipment including over 1,600 ATMs and over 1,400 terminals. Sberbank of Russia together with the Government of St. Petersburg is implementing the "Universal Electronic Card" project in the region.

The bank makes a significant contribution to the development of St. Petersburg's urban planning through investments in commercial and residential real estate developments and mortgage lending. From 2012 to 2014 a total of 124 investment projects were carried out worth more than RUB 40 bln, and Sberbank's Severo-Zapadny Bank issued mortgages in the city worth more than RUB 89 bln.