Vnesheconombank and Kaluga Region Government Sign Agreement

4 december 2007 года
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Today on December 4, the State Corporation “The Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and the Kaluga region Government entered into an Agreement on Cooperation.

The Agreement was signed by Vnesaheconombank Chairman Vladimir Dmitriev and Kaluga region Governor Anatoly Artamonov.

In the long run, the Agreement aims to carry out a number of promising investment projects on the territory of the Kaluga region, specifically, projects to build and expand infrastructure of industrial and technological parks.

Under the Agreement the two sides would work out schemes for raising funds to finance investment projects in the Kaluga region. A list of investment projects is to be made annually on the basis of priorities of socio-economic development.

At present, Vnesheconombank is considering the possibility of participating in developing Vorsino and Grabtsevo parks in the amount of 3 billion rubles for a period of 5-7 years. The projects are expected to be financed through the management company - OJSC The Corporation for the Development of the Kaluga Region against guarantees granted by the local government.

This Agreement aims to fulfill a number of top-priority tasks associated with the region’s socio-economic development and to strengthen its economic and industrial potential.

 

Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 608-46-93, Fax: +7 (495) 975-21-34
E-mail: Press@veb.ru

 

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Vnesheconombank and Export Development Canada Enter into Agreement

30 november 2007 года
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Today, on November 30, in the course of Russian Prime Minister Victor Zubkov’s working visit to Canada, The State Corporation “The Bank for Development and Foreign Economic Affairs (Vnesheconombank)”and Export Development Canada (EDC) entered into an Agreement on Cooperation.

The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and EDC Senior Vice President Benoit Daignault and Regional Vice President Klaus Buttner.

Under the Agreement the two sides are determined to carry out investment projects, promote trade ties between Canada and Russia and expand cooperation in supporting the export of Russian and Canadian goods and services to third countries.

The Agreement provides for allowing for making arrangements for mid and long-term financing of projects, extending guarantees and insuring political and commercial risks. The two sides give top priority to projects in power engineering, coal mining, shipbuilding, aircraft construction and infrastructure projects as well as in environment protection projects.

This Agreement aims to promote stable economic and financial ties between Russia and Canada.

Export Development Canada is Canada’s official export credit agency designed to promote the export of Canadian goods, services and technologies. EDC cooperates with 6400 exporter companies represented in more than 200 countries in the world.

 

Origin: Vnesheconombnak Press Office
Contact person: Svetlana Nikitina
Phone: +7 (495) 608-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru

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On Forming Vnesheconombank’s Authorized Capital

30 november 2007 года
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The State Corporation “The Bank for Development and Foreign Economic Affairs (Vnesheconombank) received funds in the amount of 180 billion rubles from the Russian Finance Ministry as a property contribution in monetary terms to the Bank’s authorized capital.

The funds were transferred to the Bank in execution of Federal Law N 82-FZ “On the Bank for Development.” Under the Law the Bank for Development’s authorized capital is to be formed within 6 months since the date of its state registration.

The Bank for Development was registered with the State Registration Chamber under the Russian Justice Ministry on June 8, this year.

 

Origin: Vnesheconombank Press Office
Contact person: Svetlana Nikitina
Phone: +7 (495) 608-46-93, Fax: +7 (495) 975- 21-34
E-mail: press@veb.ru

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Presentation of Russian Road Projects Organized by Vnesheconombank in London

21 november 2007 года
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LONDON, November 21. /PRIME-TASS/.  Russian Transport Minister Igor Levitin told British investors on Tuesday about the Russian Transport Infrastructure Development Program at the special presentation of Russian road projects organized in London by Vnesheconombank.

Mr. Levitin is quoted by ITAR-TASS as saying that the transport infrastructure remains to be a most promising and dynamically growing segment in the world investment market.

The Transport Minister said about the Russian authorities’ intention to raise private capital to carry out major projects associated with expanding the road network in the Russian Federation including the building of high-speed motorways. These include the building of a motorway between Moscow and Saint Petersburg. Representative of the European Investment Bank Mark Leistner stated his intention to participate in the last project and he said that he was sure that his financial institution was ready “to make a substantial contribution to implementing Russian private-public partnership projects.”

The initiatives proposed by the Transport Ministry are based on the provisions of the state program of transport development up to the year 2030, which was discussed in detail at the meeting of the State Council Presidium in Krasnoyarsk. They also discussed the investment development program up to the year 2012. The program provides for making investments in Russia’s transport infrastructure in the amount of more than 600 billion dollars.

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Vnesheconombank Chairman Vladimir Dmitriev Awarded “The Success of the Year” Banking Prize by Version of Itogi Magazine and Fitch Rating Agency

21 november 2007 года
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Vnesheconombank Chairman Vladimir Dmitriev was awarded “The Success of the Year” Banking Prize by version of the Itogi magazine and the Fitch Rating Agency.

 

VREMYA NOVOSTEI 214 (1856)
22.11.07

This is a Needed Financial Market Instrument

Vice Premier and Finance Minister Alexei Kudrin said that Russian banks should double their investments in Russia’s fixed assets in the coming three years. “This is a conservative forecast for the development of our economy and it means that the Russian banking and financial system as a whole should double its efforts in terms of investing funds, quality of projects and risk management assessment. This is a substantial challenge,” Mr. Kudrin is quoted by ITAR-TASS as saying at the ceremony on the occasion of the Day of Banker ( it is organized by the Itogi magazine, the Fitch Rating Agency and the Russian Union of Industrialists and Entrepreneurs).

Kudrin said that investment in the infrastructure would, above all, involve state-run banks and especially Vnesheconombank (VEB). “The capital of the Bank for Development or Vnesheconombank of Russia which is becoming an important instrument of the country’s investment policy will show its worth, said Mr. Kudrin.

In his turn, VEB Chairman Vladimir Dmitriev said that the Bank for Development is increasing lending of the real sector: today the share of long-term credits (for a period of more than three years) exceeds 55% of the total amount of the Bank’s loan portfolio. But Vnesheconombank would be able to operate to its full capacity only after all necessary decisions have been made and its authorized capital has been formed, stressed Mr. Dmitriev. At yesterday’s ceremony the Bank for Development, which was established on the basis of VEB, was declared the prize-winner in the nomination “The Success of the Year.” Vladimir Dmitriev was presented with the Prize by Russian Council of Industrialists and Entrepreneurs Chairman Alexandr Shokhin.

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