The agreement covers cooperation in multiple areas, including co-investments, debt and equity financing, long-term financing of Mubadala projects in Russia and other territories, advisory services, hedging FX and credit risks, among others.
Furthermore, the agreement paves the way for potential cooperation and investments in areas such as artificial intelligence, cybersecurity, life sciences, venture capital, Islamic finance, telemedicine and education. Sberbank and Mubadala are jointly developing a more detailed roadmap outlining engagement and cooperation plans across these verticals.
The Sberbank-Mubadala strategic partnership will unlock potential co-investment initiatives in both Russia and the Middle East, which are also expected to enhance bilateral trade between businesses in both regions.
In line with its commitment, Sberbank will establish a presence in Abu Dhabi by the end of 2020 and aims to promote investment activity by implementing projects of the bank’s clients in both conventional and Islamic finance through cooperation with funds, financial institution and other entities in the Middle East.