Veronika Nikishina, General Director of REC, and Antonio Fallico, Chairman of the Board of Directors of Banca Intesa, signed the Memorandum of Cooperation at the St. Petersburg International Economic Forum.

REC is actively developing cooperation with Banca Intesa to promote Russian export to Italy and therefore is creating the appropriate banking infrastructure. “Shortly, we will open a correspondent account in euros with Banca Intesa for the benefit of EXIMBANK OF RUSSIA JSC. This will increase the efficiency of settlements within the framework of Russian-Italian foreign trade projects. Also, we plan to intensify cooperation with Banca Intesa through EXIAR JSC in terms of insurance of risks in financing export projects,” the General Director of REC JSC emphasized.

Above all, the signed document defines a number of promising areas of cooperation, including integration, trade, and economic projects, as well as joint participation in congress and exhibition activities, conferences, meetings, and other events on the development and support of Russian export.

“The signing of the agreement with REC will promote additional ways for the development of Russian-Italian trade, which has been negatively affected by the pandemic. We are sure that exporters from both countries will be able to evaluate and take advantage of new opportunities, which we will create jointly with our reliable partners from REC, ”said Antonio Fallico, Chairman of the Board of Directors of Banca Intesa.