Moscow. May 21, 2020 — Gazprombank and the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) jointly held an online seminar on Banking Support of Contracts. The welcoming speech for the seminar participants was delivered by Denis Kamyshev, Member of the Management Board, First Vice President of Gazprombank, and Yusif Abdullayev, Acting President of the Azerbaijan Export and Investment Promotion Foundation (AZPROMO).
“We invite our Azerbaijani partners to cooperate in various areas of banking, including project and trade finance, capital market operations, international factoring, and also to improve the ecosystem of cash flow management, an important part of which is banking support of contracts,” Denis Kamyshev noted.
Gazprombank’s representatives presented the features of cross-border banking support and demonstrated interactive reporting services for banking support of contracts. The participants of the seminar were able to appreciate all the advantages of this reporting service in informing the customer about the results of funds expenditure, and to ask questions about the product.
Oleg Melnikov, Executive Vice President – Department Head, Contracts Banking Support Department, was the key speaker of the seminar with his presentation titled “Banking Support of Contracts: Evolution and Development Prospects”.
“We have the necessary experience, potential, and resources for being constantly relevant and developing our services. The first international project received banking support in October 2019. This year, we plan to conclude agreements on the provision of services in the field of banking support of contracts with the leading banks of Azerbaijan: International Bank of Azerbaijan OJSC and PASHA Bank OJSC. I am confident that soon we will be able to fully implement the contracts banking support service in the Republic of Azerbaijan,” Oleg Melnikov stated.
During the seminar, Dmitry Grishin, Head of Department at Gazprom PJSC, spoke about the practice of implementing banking support in the Gazprom Group.
The seminar involved representatives of state bodies of the Republic of Azerbaijan: the Ministry of Finance, the Ministry of Transport, Communications and High Technologies, the Central Bank, the Trade Mission of Azerbaijan in Russia, and the Trade Mission of Russia in Azerbaijan, as well as representatives of business leaders: companies of the SOCAR Group, Baku International Sea Trade Port CJSC, Nobel Oil, and many others. In total, the seminar brought together over 80 representatives from more than 50 organizations.
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