Vnesheconombank and OJSC Sredne-Nevsky Shipyard Agree on Strategic Cooperation

3 july 2013 года
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In the course of the International Naval Salon in the city of Saint Petersburg, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and OJSC Sredne-Nevsky Shipyard entered into an agreement on strategic cooperation.

On behalf of Vnesheconombank the agreement was signed by Chairman Vladimir Dmitriev and on behalf of OJSC Sredne-Nevsky Shipyard – by Director General Vladimir Seredokho.

The parties agreed on strategic partnership and on promoting long-term and effective cooperation in funding investment projects.

The agreement provides for the parties’ cooperation in providing mid-term and long-term funding as part of implementing investment projects.

Cooperation between OJSC Sredne-Nevsky Shipyard and Vnesheconombank would enhance the development of Russia’s navy as a whole and increase the share of products exported to foreign markets.

 

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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Information Message on the Results of Investing Funds of the Reserve Fund and the National Wealth Fund

1 july 2013 года
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Russia’s Finance Ministry hereby informs about the results of investing funds of the Reserve Fund and the National Wealth Fund from January 1 to June 30, 2013.

The Reserve Fund

 As of July 1, 2013, the aggregate amount of the Reserve Fund was 2 770.92 billion rubles, which is equivalent to 84.71 billion US dollars. The amounts of balances in separate accounts to record funds of the Reserve Fund were:

  • 38.08 billion US dollars
  • 29.40 billion euros;
  • 5.40 billion pounds sterlings.

The aggregate calculated income from placing funds of the Reserve Fund in foreign currency accounts of the Bank of Russia recalculated in dollars for a period from January 15 to June 30, 2013 was a negative value of (-)0.01 billion US dollars, which is equivalent to (-)0.22 billion rubles. The exchange rate difference from recalculating balances of funds in the said accounts for a period from January 1 to June 30, 2013 was 171.77 billion rubles.

The National Wealth Fund

As of July 1, 2013, the aggregate amount of the National Wealth Fund was 2 828.23 billion rubles which is equivalent to 86.47 billion US dollars including:

1)   In separate accounts to record funds of the National Wealth Fund with the Bank of Russia:

  • 27.58 billion US dollars;
  • 24.09 billion euros;
  • 4.38 billion pounds sterlings;

2)   474.02 billion rubles and 6.25 billion US dollars were deposited with Vnesheconombank.

Incomes from placing the Fund’s financial resources on Vnesheconombank’s deposits in the amount of 1.56 billion rubles were transferred to the federal budget in June of 2013. The aggregate income from placing the Fund’s financial resources  from January to June of 2013 was 15.17 billion rubles which is equivalent to 0.49 billion US dollars.

The aggregate calculated income from placing funds of the National Wealth Fund in foreign currency accounts of the Bank of Russia recalculated in dollars for a period from January 15 to June 30, 2013, was a negative value of (-)0.01 billion US dollars, which is equivalent to (-)0.30 billion rubles. The exchange rate difference from recalculating balances of funds in the said accounts from January 1 to June 30, 2013 was a positive value of 128.70 billion rubles. The exchange rate difference from recalculating funds placed on Vnesheconombank’s deposits in US dollars was 14.61 billion rubles.

Indicators of the aggregate amount of the Reserve Fund and the National Wealth Fund as well as of calculated incomes from placing funds of the Reserve Fund and the National Wealth Fund were calculated on the basis of official exchange rates of foreign currencies set by the Bank of Russia as of the date prior to the reporting date and of cross rates calculated on the basis of the said exchange rates.

Detailed statistics on transactions with funds of the Reserve Fund and the National Wealth Fund is posted on the Internet site of the Russian Finance Ministry in the following sections: “The Reserve Fund” and “The National Wealth Fund” in appropriate subsections in Russian and English, the statistics is updated on a regular basis.

 

Origin: Press Service of Russia’s Finance Ministry

 

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Head of the Presidential Administration Sergei Ivanov Presents VEB’s Development Award to First Laureates

24 june 2013 года
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In the course of the Forum there was a ceremony to present the contest winners with Development Award instituted by Vnesheconombank.

The Development Award is presented to legal entities for their outstanding merits in implementing nationally significant investment programs and projects.

The laureates of the first Development Award are:

  • In the nomination “the Best Infrastructure Project – the project “Development of Industrial Parks Infrastructure in the Kaluga Region”: “Forming an Automobile and Auto-Component Manufacturing Cluster, OJSC the Kaluga Region Development Corporation”;
  • In the nomination “the Best Project in Industrial Sectors” – the project “Launching the Production of New Generation Freight Wagons”, CJSC the Tikhvin Wagon Works;
  • In the nomination “the Best Project on the Comprehensive Development of Territories’ – “Construction of a Satellite Town of Kemerovo “Lesnaya Polyana”, Association of Construction Organizations Promstroy;
  • In the nomination “the Best Project of Small and Medium-Size Enterprises” – the project “Reconstruction of the Heating System the City Bakal, the Satkinsky District of the Chelyabinsk region, LLC Ural Energo Development”. 

The contest was held in two stages. All the applications (220 applications were submitted) were evaluated by the contest committee which was comprised of 28 experts – competent specialists in economics and investments. In the course of the contest 14 nominee projects were selected. They represented various regions and economic sectors of the country. In May of 2013, VEB’s Supervisory Board approved 4 laureates of the Development Award out of them.

Opening the ceremony Head of the Presidential Administration Sergei Ivanov said, “It’s highly symbolic that we honor laureates as part of this Form which united politicians, public figures, heads of leading companies and scientists in order to address key economic problems. Economic progress is possible due to new innovative approaches and onward movement. For Russia it means moving away from raw materials economic model, developing our vast territories and addressing crucial social demographic issues”.

VEB Chairman Vladimir Dmitriev thanked all the Contest’s participants, “A great number applications for the Award is a demonstration of positive trends in the development of our economy. It was extremely difficult to choose the best 4 projects that are the most efficient and significant for their regions’ investment portfolios”.

 

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 Intends to Raise Additional Credit Resources to Fund the Construction of a Cement Plant in the Kaluga Region

21 june 2013 года
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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.

 

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 Intends to Fund the Construction of a Football Stadium

21 june 2013 года
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In the course of the Petersburg International Economic Forum-2013 State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, Bank of America, N.A. (US), Sumitomo Mitsui Finance Dublin Limited (Ireland) and CJSC Sumitomo Mitsui Rus Bank (Russia) signed a credit agreement.

Under the agreement Vnesheconombank is to raise credit facilities from the banks in the amount of 230 million US dollars for a period of 5 years to fund a project on the construction of a CSKA football stadium in the city of Moscow. The project is to be implemented by CJSC CSKA Professional Sports Club.

 

Bank of America, N.A. is a subsidiary of Bank of America Corporation that comprises banks, investment and insurance institutions. 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.

Sumitomo Mitsui Finance Dublin limited (Ireland) and CJSC Sumitomo Mitsui Rus Bank (Russia) are members of Sumitomo Mitsui Financial Group Inc.(SMFG). SMFG is a holding company incorporating banks, investment and financial institutions. In Japan the Group ranks third by the amount of assets. SMFG has an expanded network of branches and affiliated institutions all over the world including a its subsidiary in Russia - Closed Joint Stock Company Sumitomo Mitsui Rus Bank, which offers companies and financing institutions a range of corporate banking services.

 

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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