Vnesheconombank Raises a Credit Facility from the Nordic Investment Bank

5 december 2013 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Nordic Investment Bank, NIB entered into a credit agreement.

On behalf of Vnesheconombank the agreement was signed by Deputy Chairman – Member of the Board Alexandr Ivanov, on behalf of NIB – by First Vice President Thomas Wrangdahl.

Under the agreement NIB is to extend 50 million euros to Vnesheconombank for a tenure of 10 years to fund projects in energy efficiency, as well as projects designed to reduce green house gas emissions. Top priority is to be given to projects on the territory of the North-Western Federal District of the Russian Federation as well as those providing for direct supplies of products and equipment from NIB member countries.

The Nordic Investment Bank (NIB) extends long-term credits and guarantees to customers from private and public sectors. NIB started to operate in 1976 as an international institution of Nordic countries. Nowadays, the Bank’s members are Denmark, Finland, Estonia, Latvia, Iceland, Norway and Sweden. NIB promotes sustainable development by funding projects that strengthen competitiveness and help to enhance the environment.

 

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

4 december 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 November 30, 2013.

The Reserve Fund

As of December 1, 2013, the aggregate amount of the Reserve Fund was 2 885.29 billion rubles, which is equivalent to 86.93 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 November 30, 2013 was 0.21 billion US dollars, which is equivalent to 7.09 billion rubles. The exchange rate difference from recalculating balances of funds in the said accounts for a period from January 1 to November 30, 2013 was 286.13 billion rubles.

The National Wealth Fund

As of December 1, 2013, the aggregate amount of the National Wealth Fund was 2 922.79 billion rubles which is equivalent to 88.06 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.

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 November 30, 2013, was 0.16 billion US dollars, which is equivalent to 5.32 billion rubles. The exchange rate difference from recalculating balances of funds in the said accounts from January 1 to November 30, 2013 was 220.45 billion rubles. The exchange rate difference from recalculating funds placed on Vnesheconombank’s deposits in US dollars was 17.63 billion rubles.

The aggregate income from placing financial resources of the Fund on Vnesheconombank’s deposits from January to November of 2013 was 28.88 billion rubles which is equivalent to 0.91 billion US dollars

Indicators of the aggregate amount of the Reserve Fund and the National Wealth Fund as well as of calculated incomes (losses) 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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