VNESHECONOMBANK (VEB) and Sumitomo Mitsui Banking Corporation Europe Limited (SMBCE) have signed a cooperation agreement in the field of support of joint projects, including projects implemented within the framework of state-private partnership, VEB press service reported. The agreement provides for fostering long-term partnership between VEB and SMBCE in the field of joint evaluation and subsequent structuring of large-scale investment projects. Under the document, financial institutions intend to assist project participants in selecting optimum financing schemes, including against the cover of export insurance agencies and capital market instruments. (Note: Sumitomo Mitsui Banking Corporation Europe Limited, London, Britain, is a subsidiary of Sumitomo Mitsui Banking Corporation, Tokyo, Japan. The bank was formed in 2001 through a merger of Sakura Bank and Sumitomo Bank and is among Japan’s major banks. SMBC is currently a key constituent of Sumitomo Mitsui Financial Group, which The Banker journal ranks as one of the top 20 major financial and lending institutions worldwide.)
Source: NOVECON, March 2, 2007
