Abu Dhabi – Mubasher: Russian state development bank Vnesheconombank (VEB) has opened its representative office in Abu Dhabi, the UAE’s capital and biggest sheikhdom.
"Vnesheconombank has been actively cooperating with the UAE and the Middle East, and the Islamic world as a whole,” Igor Shuvalov, Vnesheconombank's chairman, said.
The Moscow-based lender received all the required approvals, in addition to a commercial licence and a registration certificate, and now is ready to operate, he added.
“We are working to engage investors, raise finance, enhance trade and foster greater economic ties, and also to promote high-technology exports from Russia,” the chairman noted.
The Russian bank aims at expanding its geographical reach in the region, in addition to enhancing the group’s interest and cooperation with local players.
"No other Russian bank has such extensive cooperation in the region. And we are set to move forward and actively engage in financing joint projects,” Shuvalov commented.
