On Holding Corporate Workshop “Syndicated Lending. Theory and Practice”

20 february 2007 года
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Vnesheconombank held a corporate workshop “Syndicated Lending. Theory and Practice.” The workshop covered vital issues of syndicated lending.

The workshop focused on the following issues: structure, content and conditions precedent of syndicated agreements, trends in the syndicated lending market, legal aspects of syndicated transactions, specific features of handling syndicated transactions under applicable Russian legislation.

Both Russian and foreign banks that participated in the workshop regarded it as very important and highly relevant. Although syndicated lending transactions are showing great promise and advancing rapidly in the Russian banking sector, their progress is still hampered by the lack of appropriate expertise in conducting syndicated transactions, the absence of special regulations and the limited number of syndicated lending market makers, said the participants in the workshop.

The format of the workshop proved to be its distinguishing feature: representatives of Dresdner Kleinwort, London; Bank Austria Creditanstalt AG;Vienna; Deutsche Bank AG, London; Raiffeisen Zentrabank Osterreich AG, Vienna; Vneshtorgbank as well as such law firms as Baker&McKenzie and Salans held their sessions in the form of master classes.

High professional standards of the speakers evinced immense interest among Russian and CIS countries’ banks. Vnesheconombank’s corporate workshop was attended by Bank TuranAlem, Belgazprombank, MICE,the First Czech-Russian Bank, Roseximbank, the Russian Development Bank, Svayz-Bank, Slavinvestbank, Transkapitalbank, Uralsib, URSA-Bank, Khanty-Mansi Bank.

 

 

Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 208-46-93, Fax: + 7 (495) 975-21-34
E-mail: press@veb.ru

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On Agreement with Saudi Development Fund

11 february 2007 года
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Press Release, 11.02.2007


Today, in the course of Russian President Vladimir Putin’s formal visit to the Kingdom of Saudi Arabia Vnesheconombank and CJSC Roseximbank signed a Memorandum of Understanding and Cooperation in Promoting Industrial Exports.

The Memorandum was signed by Vnesheconombank Chairman Vladimir Dmitriev and Saudi Development Fund Board Chairman, Saudi Finance Minister Ibrahim Al-Assaf.

The Memorandum is the first Russian-Saudi agreement in the financial and credit field. The document is designed to create favorable conditions for implementing joint investment programs among other things in supporting industrial exports of national mechanical engineering complexes and will encourage closer cooperation between Russian and Saudi business circles.

At present, the two sides are holding preliminary consultations on identifying and selecting potential investment projects to be carried out within the Memorandum.

The Memorandum also provides for promoting cooperation with Saudi financial institutions as well as for joint mid-term and long-term financing of Russian and Saudi mechanical engineering high-tech products manufacturers.

Given the plans to establish a development bank based on Vnesheconombank, the signing and further implementation of the Memorandum offer Vnesheconombank considerable opportunities for cooperation in carrying out joint projects in the Middle East as well as in South and Central Asia by promoting Russian commodity producers’ interests in the non-raw materials sector with the use of Saudi Development Fund’s expertise and resources.

The two sides see the Memorandum as a further step to encourage cooperation in the non-raw materials sector between the Russian Federation and the Kingdom of Saudi Arabia.

The Saudi Development Fund is a state-owned organization established to develop the national economy in the sectors not associated with producing and refining hydrocarbons. Currently, the Fund is successfully implementing export programs in such countries as Pakistan, Sudan and Turkey. The total amount of transactions in the year 2006 was about 460 million US dollars.

Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 208-46-93, Fax: + 7 (495) 975-21-34
E-mail: press@veb.ru

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