During the Russian Investment Forum in Sochi, the State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and JSC Garnizon signed a cooperation agreement.
On behalf of Vnesheconombank the document was signed by Chairman, Sergey Gorkov, and on behalf of JSC Garnizon by the acting General Director, Sergey Ten.
The parties have agreed to develop and realize a number of measures for providing to JSC Garnizon financial and non-financial support in the course of execution of government defence orders, national programes for the defence industry complex, as well as investment projects and the projects implying the upgrade of the assets of JSC Garnizon and other Garnizon Holding members.
Implementation of the agreement will boost the performance of the defence industry, the competitiveness of the defence and dual-purpose products produced by Russian manufacturers and aims, among other things, to support projects for the conversion of the defence industry factories to the production of civilian goods.
JSC Garnizon is the largest, in terms of authorized capital, company within the group controlled by the Russian Ministry of Defence. Garnizon Holding currently combines more than 160 companies combined into 6 sub-holdings.