Today, a celebration in honour of the Russian women’s national volleyball team was held at Vnesheconombank. This year, the Russian volleyball players won for the first time ever the women’s world volleyball championship, which was held in Japan.
Vnesheconombank is the General Partner of the women’s volleyball national team and the Official Sponsor of the All-Russian Volleyball Federation for an Olympic period from 2005 to 2008.
Having committed itself to provide financial assistance to the women’s national volleyball team for an entire Olympic period prior to the Olympic Games in Beijing, the Bank was instrumental in creating favorable conditions for the Russian national team to perform successfully in the main competitions within a four-year period including the Olympic Games.
Origin: VEB Press Office
Persons: Svetlana Nikitina
Phone: +7 (495) 208-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru
On the Russian Government’s Decision to Establish State-run Financial Development Institution
The Government of the Russian Federation considered the report by the Minister of Economic Development and Trade of the Russian Federation on the issue of establishing a state-run financial development institution. The meeting approved the following Drafts of Federal Laws “On the Development Bank” and “On Introducing Amendments to articles 7 and 13 of the Federal Law ‘On Banks and Banking” in order to clarify issues on a new state-run financial development institution’s activities in relation to the following:
- name of the said development institution, its status and functions;
- its relationship with the Government of the Russian Federation and the Bank of Russia in terms of exercising control, record keeping and making financial statements;
- forming governing bodies, defining their functions and powers taking into account that the Prime Minister of the Russian Federation is ex officio to be the said development institution’s Supervisory Board Chairman;
- terms of financing investment projects, among other things, through extending credits;
- performing functions associated with managing funds of the Russian Investment Fund and OJSC “Special Economic Zones”;
- types of activity as a professional securities market maker;
- possibilities for insuring export contracts.
The said draft laws are to be introduced to the State Duma under the established procedure within a two-week period.