Russian Financial Control Monitor
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| 12-08-2013 10:04 International Cooperation (1) VEB joins North-East Asia Export-Import Banks Association |
MOSCOW. Russia's national development bank Vnesheconombank (VEB) has joined the memorandum of understanding of the North-East Asia Export-Import Banks Association set up two years ago by the export-import banks of China, South Korea, and the Mongolia Development Bank.
All the lenders are participants in the Extended Tumangan Initiative (ETI) project - Greater Tumen Initiative. The project is backed by the United Nations Development Programme (UNDP) and involves Russia, China, South Korea and Mongolia.
MoU is aimed to enhance financial cooperation of North-East Asian export-import banks with other financial institutions and to fund projects supported by ETI governments. |
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