Sberbank of Russia Strengthens Cooperation with OJSC KAMAZ
OREANDA-NEWS. Sberbank of Russia and OJSC KAMAZ have signed a cooperation agreement. The document bears the signatures of Herman Gref, Chairman of the Board and Chief Executive Officer of Sberbank of Russia, and Sergey Kogogin, Director General of OJSC KAMAZ.
The subject of this Agreement is to develop strategic cooperation between the parties, including subsidiaries and associates of the Bank and the Company, on a long-term and mutually beneficial basis. The Agreement provides for floatation of a sovereign bond issue to finance an investment program of OJSC KAMAZ, expansion of cooperation to finance the current activity and wage projects of KAMAZ Group, and also elaboration of a special favorable mortgage program for the company’s employees.