VEB reelected as Chair of the Managing Committee of the UN Global Compact Network Russia

26 february 2015 года
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Vnesheconombank is reelected as Chair of the Managing Committee of the UN Global Compact in the Russian Federation (UN GC in RF) until the end of this year. A relevant decision was made at a session of the Network’s Managing Committee in the UN House in Moscow on February 20, 2015.

VEB has been the participant in the UN Global Compact, the largest world’s initiatives in sustainable development since December of 2011. Since 2012, it has been one of the leaders of the national association of signatory organizations to the UN GC – the UN GC Network Russia, since 2013, it has chaired the Network’s Managing Committee. Under the difficult foreign political and financial economic conditions, the Bank intends to continue its participation in ensuring sustainable development and in implementing social projects and initiatives.

The Network’s activity is undertaken under the conditions of transferring to a new format of the Global Compact’s development that provides for enhancing increased cooperation with business and increasing its role in the UN activities. The Network is expected to be reorganizedinto an independent legal entity until the end of 2015 – an Association “the Global Compact National Network”.

A decision to create Russia’s Network of the UN Global Compact was made in December of 2008. At present, the Network is comprised of more than 70 participant organizations that undertake their activity in the sustainable development format (big business, small and medium-sized enterprises, business associations, non-profit non-governmental organizations and academic institutes).

In 2015, the UN Global Compact will mark its 15th anniversary. It is the largest international initiative designed to engage business structure in activities on sustainable development and forming global partnership between government and corporate sectors in accordance with 10 principles in the areas of human rights, labor, environment and anti-corruption. UN Secretary General Ban Ki-moon is the leader of the UN GC. The UN Global Compact is comprised of more than 12 thousand companies and organizations from 160 countries all over the world.


Press Office of VEB
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

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VEB to provide support for youth hockey players in the Volga Federal District

4 february 2015 года
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VEB has become a General Partner of the program to support and develop children’s and junior hockeyin the Volga Federal District.

A part of part of the Golden Puck Tournament in the city of Ulyanovsk, Vnesheconombank Chairman Vladimir Dmitrie presented President of the Golden Puck Club of Youth Hockey Players Vladimir Petrov with a certificate for an amount of 26 million rubles.

These funds are to be used to support mass children’s and junior hockey in the Volga Federal District. The money will be used to build modern ice arenas in each constituent entity of the Volga Federal District, purchase sports gear and equipment and help teams.

VEB has been an official partner of the Russian Hockey Federation for more than five years.


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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VEB presents the Monocities Development Fund

4 february 2015 года
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A presentation of the non-profit organization “the Monocities Development Fund” was made at Vnesheconombank. This special organization, which is to be responsible for supporting monocities being in the most difficult situation was founded by VEB in 2014.

The Fund’s main objective is to form appropriate conditions for creating new jobs and raising investments for monocities being in the most difficult socio-economic situation. The Fund’s main lines of activity are the following:

  • funding the construction of monocities’ engineering infrastructure facilities;
  • preparing project documentation and arranging for funding investment projects aimed at diversifying economy in monocities;
  • training specialists responsible for managing monocities modernization projects;

These measures’ implementation will make it possible to remove social tensions in monocities and will enhance their socio-economic development.

29.6 billion rubles are provided for in the federal budget to finance the Fund’s activity. Supportis scheduled to be provided to fifty monocities until 2017.The Working Group for Modernizing Monocities functioning within VEB is to be responsible for selecting monocities to be further supported.


Director General of the Monocities Development Fund Dmitry Skrivanovsaid: “One of the Fund’s efficiency targets is to create forty thousand jobs not related to city-forming enterprises’ activities in fifty selected cities”.

The Head of the Working Group for Modernizing Monocities under the Governmental Commission for Economic Development and Integration said that the first tranche would be given to five cities with the most unfavorable socio-economic situation (Kanash, Krasnoturinsk, Yurga, Nadvoitsy, Chegdomyn).

The Fund’s activity will make it possible to move to carrying out further state- support measures on the basis of project approach combining state support with forming top-quality local and engaging external initiatives.


Press Office of VEB
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

2 february 2015 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 31, 2015.

The Reserve Fund

The income from placing funds of the Reserve Fund in foreign currency accounts of the Bank of Russia for a period from January 15, 2014 to January 15, 2015 was 50.48 billion rubles and was transferred to the federal budget in January of 2015.

As of February 1, 2015 the aggregate amount of the Reserve Fund was 5 864.90 billion rubles which is equivalent to 85.09billion US dollars. The amounts of balances in separate accounts to record funds of the Reserve Fund were:

  • 40.82 billion US dollars
  • 31.39 billion euros;
  • 5.76 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 31, 2015 was 0.03 billion US dollars, which is equivalent to 2.04 billion rubles. The exchange rate difference from recalculating balances of funds in the said accounts for a period from January 1 to 31, 2015 was 919.41 billion rubles.

The National Wealth Fund

The income from placing funds of the National Wealth Fund in foreign currency accounts of the Bank of Russia for a period from January 15, 2014 to January 15, 2015 was 35.99 billion rubles and was transferred to the federal budget in January of 2015.

As of February 1, 2015, the aggregate amount of the National Wealth Fund was 5 101.83 billion rubles which is equivalent to 74.02 billion US dollars including:

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

  • 23.58 billion US dollars;
  • 23.29 billion euros;
  • 4.23 billion pounds sterlings;

2) 195.03 billion rubles and 6.25 billion US dollars were deposited with Vnesheconombank.

3) under an individual decision by the Russian Government 3.00 billion US dollars were placed in debt instruments of foreign states without placing demands on long-term credit ratings;

4) in the bonds of Russian issuers related to implementing infrastructure projects, a list of which is to be approved by the Russian government – 5.13 billion rubles;

5) in preferred shares of credit institutions – 278.99 billion rubles;

6) in subordinated deposit with OJSC Bank VTB to fund infrastructure projects, a list of which is to is to be approved by the Russian Government – 100 billion rubles

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 31, 2015, was 0.02 billion US dollars, which is equivalent to 1.49 billion rubles. The exchange rate difference from recalculating monetary resources of the Fundfrom January 1 to 31, 2015 was 713.75.81 billion rubles including:

  • balances in foreign exchange accounts with the Bank of Russia – 596.50 billion rubles;
  • funds deposited with Vnesheconombank in US dollars – 79.24 billion rubles;
  • funds placed in debt instruments of foreign states under a separate decision of the Russian Government without placing demands on long-term credit ratings – 38.01 billion rubles.

In January of 2015, incomes from placing financial resources of the National Wealth Fund on Vnesheconombank’s deposits in the amount of 2.40 billion rubles which is equivalent to 0.04 billion dollars were transferred to the federal budget.

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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VEB to extend a credit to LLC The Bryansk Meat Company to increase the stock breeding complex capacity

27 january 2015 года
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Vnesheconombank and LLC the Bryansk Meat Company (it is incorporatedin the MIRATORG agribusiness holding company) signed a credit facility agreement worth 425.8 million US dollars.

VEB’s credit facilities are to be used to implement a project “Increasing Capacity of the Complex to Raise Highly Productive Cattle Meat Breeds and the Complex to Slaughter and Initially Process Cattle”. This is the first part of the credit worth 742 million US dollars approved by the Bank’s Supervisory Board in July of 2014. The project’s total value is 871.5 million US dollars; its implementation would make it possible to increase the complex’s capacity to 120 thousand tons of top-quality beef per year.

VEB’s credit facilities are to be used to fund the construction of 31 new farms and to additionally purchase 90 thousand heads of highly productive breeding cattle, agricultural machinery has been purchased for fodder procurement, 200 thousand hectares of agricultural lands have been provided to create their own fodder base.

The project is of national significance and it is designed to ensure food security and import substitution.

VEB has been participating in implementing the investment project “Creation of a Complex to Raise Highly Productive Cattle Meat Breeds and a Complex to Slaughter and Initially Process Cattle” in the Bryansk region since 2010. Under the project, 112 thousand heads of pedigree Angus cattle of the highest genetic lines have been purchased, 200 thousand hectares of lands have been returned to agricultural use, 33 farms and a feedlot for 45 thousand heads of cattle as well as a high technology plant to slaughter and processcattle with a capacity of 400 thousand heads of cattle per year. The project’s value is 911 million US dollars, with the Bank’s funding volume being 571 million US dollars and 66 million euros. The British Magazine Trade Finance awarded the Best Deal of the Year 2012 Award tothe project to build a complex to raise highly productive cattle meat breeds and a complex to slaughter and initially process cattle in the Bryansk region.


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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