Vnesheconombank and Adams Street Partners Sign Agreement on Cooperation

9 july 2013 года
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State Сorporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and International Investment Group Adams Street Partners (ASP) entered into an Agreement on Cooperation.

On behalf of Vnesheconombank the Agreement was signed by Deputy Chairman – Board Member Alexandr Ivanov, on behalf of ASP by Director General - Board Member T. Bondurant French.

The Agreement provides for establishing partner relations in expanded access of Russian companies’ to long-term financial resources in the form of direct investments in their charter capital. The parties intend to give high priority to the development of direct investments’ infrastructure in the Russian Federation including the establishment of mutual investment funds.

Top-priority lines of cooperation are in line with the Memorandum on Vnesheconombank’s Financial Policies and ASP standards and provide for implementing projects in infrastructure, energy and resource efficiency, providing support for SMEs, pharmaceutical and medical industry, technologies and innovations as well as other projects that require direct investments.

Adams Street Partners was established in 1972 in the United State of America. The company makes various investments in companies’ capital. In doing this, Adams Street Partners uses private and institutional investors’ funds that are in trust management. Adams Street and Partners’ investors include major pension and sovereign funds, international corporations and private persons. As of early 2013, 22 billion US dollars were managed by Adams Street Partners

 

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 and OJSC the United Shipbuilding Corporation (OJSC USC) 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 the United Shipbuilding Corporation entered into an agreement on strategic cooperation.

On behalf of Vnesheconombank the agreement was signed by Chairman Vladimir Dmitriev and on behalf of OJSC USC – by President Vladimir Shmakov.

The parties agreed to cooperate in addressing top-priority objectives of implementing government defense procurement contracts as well as measures of federal programs aimed at boosting the defense industrial complex (DIC), modernizing and retooling defense enterprises and helping DIC enterprises to fulfill their obligations on supplying defense products as part of military-technical cooperation with foreign states.

Under the agreement Vnesheconombank and OJSC USC also agreed to cooperate in the following lines of activity:

  • to provide investments required for implementing technological modernization and developing a full life cycle of producing advanced models of military and special equipment as well as competitive military products;
  • to assist in enhancing public private partnership in the defense industry as part of DIC economic and technological modernization;
  • to provide support for the import of the most advanced production equipment required for manufacturing competitive military products;
  • to ensure the re-equipment of the Armed Forces with new models and types of armaments, military and special equipment.

In its turn Vnesheconombank is ready to explore the possibility of funding projects and investment programs of OJSC USC as well as assist in raising non-budgetary sources for funding investment projects aimed at developing DIC. VEB is also ready to fund projects in order to implement government procurement contracts and federal programs in defense and security sectors and extend guarantees and warranties as a security of defense enterprises’ obligations as well as participate in financial rehabilitation of OJSC USC enterprises.

In order to coordinate their interaction the parties agreed to establish a working group.

Under the Memorandum on its Financial Policies Vnesheconombank is responsible for funding organizations participating in implementing government defense procurement contracts and measures of federal target programs in defense and security sectors. The Bank is also responsible for extending guarantees and warranties as a security of the said organizations’ obligations.

 

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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