Sberbank and Boeing have signed an agreement on development of mutually beneficial capabilities for aviation financing and leasing on the markets of Russia and CIS Region. This agreement is the first example of co-operative efforts in improving the investment climate for Russian financial community connected with civil aircraft manufactured in the West.
In accordance with the signed agreement the parties are obliged to carry out co-operative work in the area of search and realization of projects connected with financing of acquisition and leasing of Boeing’s products and services by the existing and potential customers in Russia and CIS Region.

The agreement also includes information exchange and education projects aimed at further development of Sberbank and its subsidiary Sberbank Leasing specialists’ knowledge.

After the signing of this agreement president of Sberbank, German Gref, said: «Cooperation between Sberbank and Boeing will give a significant impulse for development of aviation financing and leasing in Russian and CIS Region and will also allow Sberbank to increase its competence in the area of organization of financing for deals with aviation companies».

«On the back of continuing growth of global economy and the highest indicators at global markets of avaiation financing in the last years, we are glad to take part in cooperation with Sberbank, which will allow the bank to improve its conditions of aviation financing and it will also allow us to expand the capabilities for deliveries of our aviation products and services on the growing markets of Russia and CIS Region», – said the Senior Vice-president of Boeing and president of Boeing Capital Corp, Michael J. Cave.

Sberbank has an experience in financing a number of clients during acquisition of Boeing aircraft, and also it has an experience of working with the participation of international export credit agencies.

According to the Boeing’s last forecast, total demand in aircraft in the next 20 years by airlines of Russia and CIS Region will be around 960 jets with the total value of $90 billion.