Yerevan, June 14 /Mediamax/. Russian “VTB Bank”, “VTB-Armenia Bank” CJSC and “Electric Networks of Armenia” CJSC (ENA) concluded an agreement in Yerevan today on long-term cooperation in the sphere of funding of ENA projects.

Mediamax reports that the agreement was signed by the Chairman of the Board of “VTB Bank” OJSC Andrey Kostin, the General Director of “VTB-Armenia Bank” CJSC Valeri Ovsyannikov and the General Director of “Electric Networks of Armenia” CJSC Yevgeni Gladunchik.

The agreement signed today provides for financing of capital investments of ENA in Armenia in accordance with the investment program, approved by the Commission for Regulation of Public Services /term: 5-8 years, total volume of funding: $70mln/, a short-term financing of the working capital of ENA, as well as the joint elaboration of programs on providing an improved package of banking services to ENA and its contractors.