Sberbank and Sovcomflot have cooperated in the past as well, in two projects. The first joint project was in 2015, for the finance of three Arctic shuttle tankers to transport crude oil from the Novy Port field. That agreement set an important precedent for Russian domestic credit institutions.
Igor Bulantsev, Senior Vice President of Sberbank, Head of Sberbank CIB, said: "We are delighted that the mutually beneficial cooperation between Sovcomflot Group and PAO Sberbank is growing consistently, across a broad range of banking services. Investment in significant projects that fund the development of a modern infrastructure continues to be a priority for the Bank. We are positive about the prospects for lending to the shipbuilding industry and look forward to the continuation and further development of the relationship between our companies."