On Payments on Government Foreign Currency-Denominated Bonds

24 december 2012 года
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In accordance with the terms of issuing eurobonds and on the Russian Finance Ministry’s instructions State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’  transferred funds in the total amount of 159million 365thousand 437.50 US dollars to Citibank N.A., London Office.

The funds were transferred to repay government debt of the Russian Federation through paying interest on Eurobonds issued in 1998 for the amount of 2.5 billion US dollars for a period of 30 years.

The payment was made in single currency.

 

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

 

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Vnesheconombank Signs Two Credit Agreements with Bank of America, N.A.

21 december 2012 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and Bank of America, N.A. (U.S.) signed two credit agreements on raising credit facilities on a commercial basis for a total amount of 200 million U.S. dollars for a period of 5 years.

The raised funds are to be used to fund Vnesheconombank’s investment projects.

These credit agreements are the first to have been signed between Vnesheconombank and Bank of America, N.A. to fund Russian investment projects financed by the Bank for Development.

Bank of America, N.A. is a subsidiary of Bank of America Corporation that includes banks, investment and insurance companies. In terms of assets amount the Group ranks first in the U.S. It has an extensive network of subsidiaries throughout the world including its affiliate in Russia LLC Merrill Lynch Securities which offers a wide range of corporate and investment-banking products to companies and financial institutions.

 

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

 

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Vnesheconombank Signs Credit Agreement with Kreditanstalt fur Wiederaufbau Bankengruppe (KfW)

20 december 2012 года
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State Corporation ‘Bank for Development and Foreign economic Affairs (Vnesheconombank)’ and Kreditanstalt fur Wiederaufbau Bankengruppe (KfW) with the assistance of the Council of the Baltic Sea States (CBSS) entered into the second commercial agreement under the Pilot Financial Initiative.

Credit facilities under the credit agreement in the amount of up to 65 million US dollars will be provided in the ruble equivalent at a fixed rate. The raised credit facilities are to be used by Vnesheconombank to fund the project aimed at processing mixed household waste of Saint Petersburg. The project is being implemented by OJSC Autopark №1 Spetstrans

This project’s implementation would contribute to environmental protection and improving the ecological situation in Saint Petersburg.

The first commercial credit agreement between Vnesheconombank and KfW under the Pilot Financial Initiative was signed on November 16, 2012 for an amount of 110 million US dollars to build on the Memorandum of Understanding concluded earlier in May of 2012 between the Permanent International Secretariat of the Council of the Baltic Sea States, KfW and Vnesheconombank.

The Council of the Baltic Sea States (CBSS) was established in 1992 in Copenhagen. The Council is comprised of: Denmark, Estonia, Finland, Germany, Island, Latvia, Lithuania, Norway, Poland, the Russian Federation, Sweden as well as the European Commission.

Pilot Financial Initiative (PFI) is a program of financial cooperation initiated by KfW and Vnesheconombank. This program is designed to create an open financial Platform, which is intended to engage financial partners and  raise  financial resources for projects aimed at sustainable economic development and cooperation in the geographic area of CBSS, regional know-how transfer as well as to multiply the effect of CBSS investments and to implement sub-regionally focused programs. The Platform is open to accession of other financial institutions acting in the region of CBSS

 

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

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Vnesheconombank to Extend Credit to the Indonesian Finance Ministry

20 december 2012 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Republic of Indonesia represented by the Indonesian Finance Ministry entered into a Credit Agreement.

Under the Agreement Vnesheconombank is to extend credit facilities for a total amount of 399.5 million US dollars for a period of up to 7 years to the Indonesian Finance Ministry.

These credit facilities are to be used to fund the supply of Russian aircraft to the Republic of Indonesia under the export contract between OJSC Rosoboronexport and the Indonesian Defense Ministry.

The said Credit Agreement is the second transaction to have been made between Vnesheconombank and the Indonesian Finance Ministry for the past two years.

The Agreement signed testifies to the progressive improvement in relations between the two states and is fully in line with the tasks set at the eighth meeting of the Russian-Indonesian Joint Commission on Trade-Economic and Technical Cooperation. Vnesheconombank’s participation in funding the project helps to promote Russian high-technology industrial products exports to the countries of South-East Asia

 

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

 

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Vnesheconombank Raises Credit Facilities to Implement the Project on the Construction of Hotel Complex

20 december 2012 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and ING Bank N.V. London (the Netherlands) entered into a Commercial Credit Agreement for a period of 5 years.

Credit facilities provided by ING Bank N.V. in the amount of up to 50 million euros are to be used by Vnesheconombank to fund an investment project on the construction of a hotel complex as part of developing the Zavidovo territory. The project is being implemented by LLL Zavidovo Plaza.

The project is designed to overcome economic growth infrastructure restrictions including tourism infrastructure development.

ING Bank N.V. is a member of the international finance corporation ING Group – a global company of Dutch origin with a 150-year history. It provides a wide range of financial services including banking, insurance and trust management services in more than 50 countries throughout the world. In terms of market capitalization ING Group is among the five largest institutions in Europe .In Russia ING Group is represented ING BANK (EURASIA) CJSC which is actively participates in various forms of funding and lending  projects of the largest Russian enterprises.

 

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

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