11 Sep 2009 14:58

Gazprombank and Bank of China sign agreement on financing external operations

MOSCOW. Sept 11 (Interfax) - Gazprom and Bank of China have signed an agreement for the financing of external trade operations in the form of post-financing bills of credit, the Russian bank said in a statement.

In 2006, Gazprombank opened a representative office in Beijing for the purposes of protecting its interests, assisting in business development and implementing projects with Gazprom as well as other clients of the bank.

Expanding its operations in China, Gazprombank has signed a series of agreements and memorandums for partnership with Chinese state financial institutions such as Export-Import Bank of China, China Development Bank and China's official export credit insurance agency (Sinosure).