Mizuho Corporate Bank (MHCB) and ZAO Mizuho Corporate Bank have signed a cooperation agreement with the State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ (hereinafter ‘VEB’; Vladimir Dmitriev, Chairman) covering a wide range of areas, including trade finance, project finance, and information exchange.
MHCB currently engages in loan business and settlement transactions with VEB, and with the conclusion of this cooperation agreement, MHCB expects to increase joint undertakings with VEB in various financing business, including trade finance for Japanese exports to Russia and project finance deals related to Russian infrastructure development and other areas.
It has reported that through this cooperation agreement, MHCB and ZAO Mizuho Corporate Bank (Moscow) will provide support to Mizuho customers in establishing business operations in Russia and finding new business opportunities, and in doing so, would like to contribute to the further development of the economy in Russia.
VEB, a wholly-owned policy bank of the Russian Government, is involved in the financing of projects in various fields, including infrastructure, the high-tech sector, and international trade.
