Vnesheconombank is ready to support the export of high-technology products to Belorussia and Ukraine through its subsidiary banks

30 july 2013 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ entered into framework agreements on general terms of opening credit lines with OJSC Bank BelVEB (the Republic of Belarus) and Prominvestbank (Ukraine). The agreements were signed in the course of Vnesheconombank Group delegation’s working visit to the Republic of Belarus (the city of Minsk) and to Ukraine (the city of Kiev) from July 29 to 31, 2013. The delegation was headed by Deputy Chairman Alexandr Ivanov.

On behalf of Vnesheconombank the agreements were signed by Deputy Chairman, Member of the Board Alexandr Ivanov and on behalf of Prominvestbank - by Chairman Viktor Bashkirov and on behalf of OJSC Bank BelVEB – by Board Chairman Pavel Kallaur.

These agreements determine general terms of opening credit lines by Vneshconombank in order to fund supplies of Russian industrial products (goods, works, services) to the Republic of Belarus and Ukraine.

Credit facilities are to be extended after the parties have signed individual credit agreements under the framework agreements within a limit to be approved by a relevant corporate governance body of Vnesheconombank. The parties expressed confidence that the agreements’ implementation would promote integration and expand export-import transactions.

One of the business trip’s goal was to present the state’s system to support Russian export financing as well as export insurance support by the Export Insurance Agency of Russia (EXIAR, Vnesheconombank Group).

In the course of the visit Vnesheconombank Group’s delegation held talks with potential partner banks in the Republic of Belarus and Ukraine on identifying projects for potential funding.

 

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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A Regular Meeting of the Working Group on Implementing the Agreement on Development Institutions’ Interaction Held

29 july 2013 года
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A regular meeting of the Working Group on implementing a multilateral Agreement on development institutions’ interaction in securing continuous financing of innovation projects was held at the Economic Development Ministry. The meeting was chaired by Management Board Member, Vnesheconombank Deputy Chairman Mikhail Kopeikin.

A key issue discussed at the meeting was to agree upon a draft agreement on organizing information exchange between development institutions on the approved projects and projects being considered. The Working Group’s participants agreed to sign this agreement till the end of the 3nd quarter of 2013.

Vnesheconombank informed the Working Group’s participants on the successful implementation of the joint legislative initiative on introducing amendments to the Federal Law “On the Development of Small and Medium-Sized Entrepreneurial Activity”. The amendments are to become effective on October 1, 2013. These amendments are to remove restrictions with regard to a participation share of one or several development institutions in small and medium-sized companies’ capital, with the development institutions providing the state’s support for innovation activity without being small and medium-sized enterprises.

Vnesheconombank also presented new instruments for supporting SMEs: a guarantee mechanism for small and medium-sized enterprises and OJSC SME Bank’s Program “Baltica Innovations” for companies of the North-West Federal District from the Leningrad, Novgorod, Kaliningrad, Pskov regions and the city of Saint Petersburg. These instruments are becoming accessible for portfolio companies of development institutions taking into account approved amendments to the Federal Law “On the Development of Small and Medium-Sized Entrepreneurial Activity”.

The Working Group was established in order to implement the Agreement on development institutions’ and interested organizations’ interaction in securing continuous financing of innovation projects at all stages of innovation cycle. The Agreement was worked out on Vnesheconombank’s initiative and signed in April of 2010. The Agreement aims to organize interaction between the parties to identify needs of innovation companies and provide them with instruments, services and conditions for their participation in implementing innovation projects on the territory of the Russian Federation and on the global market.

The Working Group is comprised of representatives from state financial development institutions (Vnesheconombank, ROSNANO), the Russian Venture Company, the Skolkovo Foundation, SME Bank, the Fund to Assist in Developing Small and Medium-Sized Enterprises in the Scientific and Technical Sector as well as the Moscow Interbank Currency Exchange, such non-governmental organizations as OPORA ROSSII, the Russian Venture Investment Association and  the Federal Agency for Youth Affairs

 

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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