Framework Credit Agreement with BNP Paribas Signed

16 november 2007 года
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Today on November 16, in the course of Prime Minister Victor Zubkov’s working visit to France the State Corporation “The Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and the French Bank BNP Paribas signed a Framework Credit Agreement on Extending a Credit Line worth 300 million euros (or its equivalent in US dollars).

The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and BNP Paribas General Director Georges Chodron –de-Courcel.

Under the Agreement the funds made available within the credit line could be used to finance the purchase of West European goods and services by Russian importers with insurance coverage under the credit to be provided by European export credit agencies.

The signing of the Framework Credit Agreement with BNP Paribas opens up ample opportunities for boosting multilateral Russian-French cooperation by way of carrying out major investment projects on the territory of the Russian Federation and would help increase the trade turnover between the two countries.

BNP Paribas is the leader in banking and financial services in Europe and occupies 15th place in the world by market capitalization. The number of the Group’s employees is 155000 of which 123000 work in Europe. The Group is the leader in three main lines of business: corporate and investment banking services, asset management, retail banking and financial services. The BNP Paribas Group is represented in 85countries in the world and has strengthen its position in all major financial markets. BNP Paribas is active in all lines of business across Europe. France and Italy are the Group’s internal markets for retail banking services. BNP Paribas is making strenuous efforts to expand its business son the territory of the United States and holds influential positions in Asia and emerging markets.

 

 

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

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Vnesheconombank and Korea Development Bank Enter into Agreement

15 november 2007 года
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The State Corporation “The Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and The Korea Development Bank entered into Agreement on Cooperation.

The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and Korea Development Bank Governor Kim Chang-Lok.

The Agreement aims to establish partner relations in trade and project financing, syndicated loans and in sharing and exchanging experience in various fields associated with financial institutions’ business.

Under the Agreement the two sides are determined to promote joint mutually beneficial cooperation aimed at generating profits.

KDB was established in 1954 and is the State Development Bank of the Republic of Korea. The Bank occupies fourth place in the country and 101st place in the world by the amount of assets.

 

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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The Memorandum of Understanding between Vnesheconombank and The Korea Development Bank

15 november 2007 года
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The State Corporation “The Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and The Korea Development Bank (KDB) signed a Memorandum of Understanding (The MOU).

The Agreement was signed by the Chairman of Vnesheconombank Mr. Vladimir Dmitriev and the Governor of KDB Mr. Kim, Chang-Lok.

Under The MOU the Parties are intent on establishing partnership relations in the area of developing trade and project financing, syndicated loans, as well as exchanging experience and information in their respective fields of business.

According to the document, the Parties shall take all appropriate steps to develop and strengthen their business relationship on the basis of equality, mutual benefits, mutual understanding, respect and trust.

KDB, was founded in 1954 as a state development bank. KDB ranks 4th  inside the country and 101th in the world in terms of assets volume.

 

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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Russian Finance Minister’s Commendation Presented to Director and Deputy Director of Internal State Assets Department

14 november 2007 года
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Today, on November 14, the Russian Finance Minister’s Commendation was presented at the presentation ceremony to Director of the Internal State Assets Department Anton Staroselsky and Deputy Director of the Internal State Assets Department Mikhail Dorofeev.

 

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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Repayment of 1999 OGVZs

14 november 2007 года
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Today on November 14, in accordance with the terms of issuing and trading 1999 OGVZs (state registration number MK-00-139) Vnesheconombank acting as a paying agent and servicing depository for the Russian Finance Ministry repaid 1999 OGVZs having paid the balance of the principal in the amount of 50% of the bonds’ par value and the last half-year coupon at a rate of 3% per annum.

The amount of 1999 OGVZs issued into circulation was 889.7 million US dollars; the bonds were centrally serviced by Vnesheconombank’s Custody Department.

1999 OGVZs were issued in 2000 in order to restructure the government debt on third tranche OVGVZs 95.8% of third tranche OVGVZs issued into circulation were presented for novation. Holders of third tranche OVGVZs who failed to get their bonds novated on the set date can enter into an agreement with the Russian Finance Ministry on termination fee and get their bonds repaid.

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