Abkhazia, Russian bank PSB sign cooperation agreement

SUKHUM. April 2 (Interfax) - Abkhazia's Economy Ministry and Russia's Promsvyazbank (PSB) bank have signed an agreement on humanitarian cooperation in the financial and lending sphere in the presence of Abkhaz President Badra Gunba and the Russian presidential administration's first deputy chief Sergei Kiriyenko, the press service for the Abkhaz president said in a statement on Thursday.

"The agreement aims to broaden cooperation in the socially significant and financial sectors and to raise the quality of service for Russian citizens who permanently reside in Abkhazia," the statement said.

On July 10, 2025 Gunba and Kiriyenko visited the PSB representative office in Sukhum, where they discussed the implementation of a social initiative to issue bank cards to Russian pensioners living in Abkhazia. Such cards have been issued in Abkhazia since April 18, 2025. More than 21,000 Russian pensioners that wanted them have already received cards for pension and social payments from the Russian Social Fund.

"Developing the financial infrastructure and expanding the range of banking services helps raise the level of social security for citizens and strengthen Abkhaz-Russian economic cooperation," the statement said.