MOSCOW, February 28 (RIA Novosti) - Russian state-run foreign trade bank, Vnesheconombank (VEB), has signed a cooperation agreement with India's second largest bank, the VEB press office said Tuesday.
Vnesheconombank's agreement with India's ICICI covers a long-term and strategic partnership in financial support for projects in various sectors of the economy, including pre-export financing.
"The signing of the agreement with ICICI opens broad possibilities to develop further economic cooperation and boost trade between Russia and India," VEB said.
ICICI also announced that it was launching operations in Moscow Tuesday through its subsidiary bank.
