Vnesheconombank Promotes Cooperation with French Development Institutions in Supporting SMEs

31 october 2011 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, OJSC SME Bank and French Banks Caisse des Depots et Consignations (CDC) and CDC-Enterprises signed in Paris a quadruple Protocol aimed at promoting cooperation in supporting small and medium-sized enterprises (SMEs) and innovations under the Agreement signed earlier between CDC and Vnesheconombank.

From the Russian side the Protocol was signed by Board Member – Vnesheconombank Deputy Chairman Mikhail Kopeikin, OJSC SME Bank Deputy Board Chairman Kirill Semenov and from the French side – by Board Member, CDC Head of International Affairs Laurent Vigier and CDC-Enterprises President Pascal Lagarde.

The Protocol was signed to promote mutual long-term strategic cooperation through sharing business experience and joint use of potential for funding SMEs operating in the innovation sector with the participation of such subsidiary banks as OJSC SME Bank and CDC-Enterprises which are responsible for implementing programs aimed at developing small and medium-sized enterprises. The parties also agreed to explore possibilities for setting up a direct investments fund.

In the course of his working visit to Paris Mikhail Kopeikin met OSEO President Francois Drouin and participated in a meeting of Vnesheconombank-OSEO working group established under the Memorandum of Understanding signed by the parties in June of 2011.

The working group meeting dealt with the practice of using financial instruments in providing support for SMEs, in particular, extending joint guarantees. The parties agreed to cooperate in developing innovative SMEs including those operating within territorial clusters being formed now. OSEO presented digital platforms used to connect SMEs and investors. The parties discussed potential ways of cooperation in this line of activity.

Mikhail Kopeikin also took part in the meeting of the OECD Working Group on Small and Medium-Sized Enterprises where its participants discussed the Draft Bulletin on Financial Support for SMEs for 2011. It was prepared as a result of joint efforts by the OECD project’s participants in the current year. They also agreed upon a subject-matter and periods of doing a relevant research in Russia.

Vnesheconombank plans to join the OECD project in the fourth quarter of 2011.

 

Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

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Vnesheconombank and the Belgorod Region Intend to Cooperate in the Investment Activity

26 october 2011 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Government of the Belgorod region signed an Agreement on Cooperation.

On behalf of Vnesheconombank the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and on behalf of the Belgorod region Government - by Governor Evgeny Savchenko.

The Agreement provides for promoting long-term and effective cooperation in the investment activity and establishing strategic partnership.

Under the Agreement the parties intend to cooperate in raising funds to finance investment projects to be implemented among other things on public private partnership conditions, work out schemes for funding them, cooperate in evaluating investment projects and participate in providing financial support for small and medium-sized enterprises.

Vnesheconombank is to be responsible for coordinating interaction between its subsidiary banks and the Government of the Belgorod region.

Under the Agreement the Government of the Belgorod region has sent a list of investment projects scheduled to be implemented on the region’s territory to Vnesheconombank.

The total value of projects submitted by the region to Vnesheconombank is about 86.8 billion rubles; Vnesheconombank’s potential participation share is 74.7 billion rubles. The implementation of the projects is expected to create more than 15.6 jobs and revenues in budgets of all levels are to amount to 91.2 billion rubles.

This Agreement’s implementation will help to expand investment activity, address problems of the region’s socio-economic development, increase the region’s economic and industrial potential.

As of October 201l, 5 investment projects of the Belgorod region worth 20.1 billion rubles were under consideration at Vnesheconombank, with Vnesheconombank’s participation share being  15 billion rubles. These projects’ implementation is expected to create more than 800 jobs, budget revenues will increase by 1.7 billion rubles.

 

Press office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

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Vnesheconombank Conducts Workshop on Development Projects for the Siberian Federal District Regions

21 october 2011 года
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As part of implementing the educational project “Training of Specialists – Participants in Investment Projects Implemented with the Assistance of Development Institutions”, Vnesheconombank held a workshop “Vnesheconombank: Development Projects of the Siberian Federal District”.

In the attendance of the workshop were more than 50 representatives of the Siberian Federal District’s business community as well as representatives of the District regions’ government and municipal authorities.

Welcoming addresses were given to the workshop’s participants by Krasnoyarsk Territory Deputy Prime Minister Andrei Gnezdilov, Chief Federal Inspector of the Presidential Envoy Office in the Siberian Federal District Ivan Goncharov, Deputy Minister of Investments and Innovations of the Krasnoyarsk Territory Andrei Tregubov, Director of Vnesheconombank’s Bank Operations Management Directorate Sergei Noskov and Director of Vnesheconombank’s Regional Policies Department Sergei Astafurov.

In the course of the workshop representatives of Vnesheconombank’s Group spoke of Vnesheconombank’s top-priority lines of activity in the Siberian Federal District, told the workshop’s participants in great length about principles and criteria of selecting investment projects at Vnesheconombank, SME Bank’s programs designed to support small and medium-sized enterprises and gave examples of Vnesheconombank’s investment projects in the sectors that are of great importance for the Siberian Federal District as well as projects implemented by the Bank with the use of PPP mechanisms.

During the round-table discussion “Investments Potential of the Siberian Federal District” the workshop’s participants were especially interested in presentations and discussions of projects that have been already successfully implemented and are scheduled to be implemented with Vnesheconombank’s participation. The Bank’s potential borrowers were given practical recommendations by representatives of Vnesheconombank’s Group on finalizing potential projects.

In conclusion of the workshop its participants said that it was necessary to boost investment literacy of young specialists and students of the country’s leading universities. As a result of the workshop a decision was made to hold a competition for doing a practical training at Vnesheconombank and at its subsidiary banks. Vnesheconombank’s Representative Office in Krasnoyarsk is to be responsible for selecting the competition’s participants.

 

Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

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Vnesheconombank and Germany’s BHF-BANK Aktiengesellschaft sign loan agreements

20 october 2011 года
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The State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and Germany’s BHF-BANK Aktiengesellschaft, a leading provider of export and commodity finance with a long track record in structured export finance in Russia and other Eastern European countries, have signed several individual loan agreements. These facilities will finance the supply of German equipment as part of the project aimed at developing and engineering the production of a new family of YAMZ-530 engines with an engine capacity range of 120-315 hp implemented by OJSC Avtodiesel (YAMZ).

The agreements were signed on behalf of Vnesheconombank by Petr Fradkov, Member of the Board – Deputy Chairman, and on behalf of BHF-BANK Aktiengesellschaft by Walter Schwertner, Vice President and Uschi Kirchner, Vice President.

Within the scope of the above documents, BHF-BANK Aktiengesellschaft will provide Vnesheconombank with loans totalling EUR 31.48 million. The amount of the loan agreement with Euler Hermes coverage is EUR 26.89 million. The total tenor of the Euler Hermes-backed financing is 8 years. The commercial loan agreement amounts to EUR 4.59 million.

The implementation of this project will help to meet demand among Russian manufacturers of trucks, agricultural and road construction equipment for competitive diesel engines assembled as far as possible using Russian-made components and parts. The launch of a new production facility with a high proportion of local input will help to ensure that products have lower unit costs than similar imported goods.

 

Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-43-96, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

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Vnesheconombank Conducts Training Workshop for the Kazakhstan Development Bank

19 october 2011 года
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As part of implementing the Agreement “On Cooperation in Training Personnel and Sharing Experience between Banks-Members of the SCO Interbank Consortium”, Vnesheconombank organized and held a training working shop for specialists of the Kazakhstan Development Bank (KDB) in a period from 10 to 13 October of 2011

Executives and specialists of Vnesheconombank’s key structural subdivisions presented information of the Bank’s top-priority lines of activity as well as the largest investment projects being implemented with VEB’s participation including those carried out on the conditions of public private partnership, they also told KDB representatives about principles and criteria of selecting investment projects at Vnesheconombank.

In the course of the workshop its participants discussed instruments for raising funds to implement investment projects as well as specifics of funding export projects and main mechanisms for monitoring and managing projects with due regard to changes emerging during their implementation.

In order to demonstrate the presented information in practical terms, KDB representatives were given an extended presentation on a facility funded by Vnesheconombank namely the Kolomenskoye Gas-Turbine Power Plant, which they also visited.

The SCO Interbank Consortium was established on October 26.2005. Its activity is designed to support regional economic cooperation. At the moment, it incorporates State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, the Kazakhstan Development Bank, the China State Development Bank OJSC RSK Bank, the Tajikistan National Savings Bank ‘Amonatbank ’and the Uzbekistan National Bank for Foreign Economic Affairs. The Kazakhstan Development Bank acts as the chairman bank in 2010-2011.

 

Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

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