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Publish Date : 18-Jun-2016

Sberbank and the Russian Ministry of Construction Industry, Housing and Utilities Sector signed a strategic cooperation agreement at the St. Petersburg International Economic Forum. On behalf of Sberbank the agreement was signed by Herman Gref, CEO and Chairman of the Executive Board of the Bank, and on behalf of the Russian Ministry of Construction Industry, Housing and Utilities Sector by Mikhail Men, Head of the Ministry.

The subject of the agreement is the realisation and financing of projects under Russias State Programme Accessible and Comfortable Housing and Utilities for Russian Citizens. Namely, this involves residential construction, public utilities and procurement for the state, projects using state guarantees and PPPs, as well as bank services for the Ministry and its subordinate organisations.

The state of the housing and utilities sector and construction industry is a vital factor in Russias socio-economic development. This agreement creates a solid foundation for productive cooperation on a number of projects under the State Programme Accessible and Comfortable Housing and Utilities for Russian Citizens, as well as under PPPs. We see it as a necessary and important step in developing the sector, commented Herman Gref, CEO and Chairman of the Executive Board of Sberbank.

The strategic partnership agreement signed by Sberbank and the Ministry will enable us to build on our mutually beneficial relationship and complete projects in vital areas of social development. I am certain that with a strategic partner such as Sberbank, much progress will be made on providing the population with modern and accessible housing and resolving the tasks of Russias housing and utilities sector, commented Mikhail Men, Minister of the Construction Industry, Housing and Utilities Sector.

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