Vnesheconombank Intends to Raise Additional Credit Resources to Fund the Construction of a Cement Plant in the Kaluga Region
In the course of the Petersburg International Economic Forum-2013 State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’and HSBC Bank plc. (Great Britain) signed a credit agreement
On behalf of Vnesheconombank the agreement was signed by Chairman Vladimir Dmitriev and on behalf of HSBC – by Co-Head of Global Markets at HSBC Group Spencer Lake.
Under the agreement HSBC is to extend additional credit facilities worth up to 25.2 million euros (in ruble equivalent) to fund a project on the construction of a cement plant in the Kaluga region to be implemented by the Kaluga Cement Plant LLC. Credit facilities are to be extended for a total period of up to 8.5 years against insurance coverage of Denmark’s Export Insurance Agency EksportKreditFonden.
This agreement’s implementation would help to develop high-technology production facilities, create new jobs and increase the amount of tax revenues in budgets of all levels.
HSBC Bank plc. is part of HSBC Group. HSBC Group is a holding company comprising banks, investment and financing organizations. By the amount of assets HSBC Group is among four largest banking institutions in Great Britain. The Group has an expanded network of affiliates and bank branches all over the world. On the Russian territory the Group is represented by its subsidiary HSBS Bank LLC. It is specializing in providing corporate banking services to companies and financing institutions.
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Vnesheconombank and the Government of the Leningrad Region Approve a Plan to Support Small and Medium-Sized Enterprises
In the course of the Petersburg International Economic Forum-2013 State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Government of the Leningrad region signed a Joint Action Plan of Vnesheconombank Group and the Government of the Leningrad region for supporting small and medium-sized enterprises for 2013-215.
On behalf of Vnesheconombank the Plan was signed by Vnesheconombank Deputy Chairman- Board Member Mikhail Kopeikin and on behalf of the Government of the Leningrad region – by Vice Governor of the Leningrad region – Chairman of the Economic Development and Investment Activity Dmitry Yalov.
The Plan was signed to build on the agreement on cooperation in providing support for SMEs signed in February of 20123.
The parties agreed to jointly select small and medium-sized enterprises implementing projects in innovations, energy efficiency as well as in modernizing production facilities on the territory of the Leningrad region for them to receive comprehensive support with the use of mechanisms for extending guarantees (OJSC Loan Security Agency) a credit line from KfW Banking Group as well as mechanisms of Vnesheconombank Group.
This Agreement’s implementation would help to set up a comprehensive system of supporting small and medium-sized enterprises on the territory of the Leningrad region on the basis of regional measures for providing state support and financial programs implemented by Vnesheconombank.
Press Office of Vnesheconombank
Phone: +7 (499) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru