Federation Council Approves New Legislation on VEB.RF Functions

23 november 2018 года
#News
Back

A session of the Federation Council passed legislation to change the name of State Corporation Vnesheconombank to VEB.RF, introducing several new functions, such as its role as a development institution coordinator.

The amendments are to be made to the Federal Law On the Bank for Development and certain legislative acts of the Russian Federation.

The law changes the name of State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” to State Development Corporation VEB.RF.

The law also assigns new functions to VEB.RF to coordinate the development institutions’ activities as resolved by the Russian Government.

Another law amends the Budget Code. The Government will approve resolutions concerning the authorised capital of VEB.RF in the form of paid-in capital and the amount of its authorised capital that should subsequently additionally be contributed by the Russian Government (callable capital).

Back

VEB Redeems Its Eurobond Series 9 Issue

22 november 2018 года
#News
Back

State Corporation "Bank for Development and Foreign Economic Affairs (Vnesheconombank)" redeemed its Eurobonds Series 9 issue on November 21, 2018.

The Eurobonds for a nominal amount of US$ 850 mn were issued on the Irish Stock Exchange in 2013 with a five-year maturity period and an annual coupon rate of 4.224%.

The redemption of the Eurobond issue and coupon payments were executed in full and in accordance with the terms of the prospectus.

Irish Stock Exchange cancelled listing of Eurobonds Series 9 with effect from 21st November 2018.

Back

KuibyshevAzot Production Site Visited by Vnesheconombank’s Development Projects Team

24 october 2018 года
#News
Back

Vnesheconombank’s First Deputy Chairman and Member of the Board Nikolay Tsekhomskiy has met with KuibyshevAzot’s management at the production site in Tolyatti, Samara Region. KuibyshevAzot is a leader in the Russian chemical industry.

«KuibyshevAzot’s project to build and operate a production facility with an annual capacity of 140,000 tonnes of K-grade sulphuric acid and 360,000 tonnes of refined oleum can become the first project of the Project Financing Factory. Investments will total as much as 6.5 billion roubles," Nikolay Tsekhomskiy said. «The Board of Vnesheconombank has already decided to use the Factory’s mechanism for Vnesheconombank’s participation in financing the project.»

The memorandum of intent to involve the Project Financing Factory in carrying out the project was signed by KuibyshevAzot and Vnesheconombank at SPIEF 2018.

According to KuibyshevAzot CEO Alexander Gerasimenko, the sulphuric acid and refined oleum project is aimed at providing feedstock, expanding the existing manufacturing capability and maintaining competitiveness for Russia’s only import-substituting process chain, from caprolactam and polyamide to fibre and fabric, created by the company. The project uses advanced resource-saving technology that ensures a high level of industrial and environmental safety.

Nikolay Tsekhomskiy and Vnesheconombank’s Deputy Chairman Yuriy Korsun were shown the company’s production processes and products and discussed prospects for future cooperation.

KuibyshevAzot operates in two core areas: 1) caprolactam and derived products (polyamide 6, durable technical and textile fibres, cord fabrics, industrial plastics); 2) ammonia and nitrogen fertilisers. The Company also has a joint venture producing industrial gases such as nitrogen, oxygen and argon.

Back

Igor Shuvalov Takes Part in Plenary Session of Small Business – National Project! Forum

23 october 2018 года
#News
Back

OPORA RUSSIA All-Russian Public Organisation of Small and Medium Business held an entrepreneur forum in Moscow on 23 October 2018. The forum is designed to discuss and popularise the national project of small and medium-sized businesses and provide support for individual entrepreneurship.

In his speech, Igor Shuvalov told the forum participants about the involvement of Vnesheconombank and other development institutions in implementing the development agenda outlined in the May presidential decree.

Vnesheconombank’s Chairman said: «We are currently creating a uniform platform to demonstrate common tools of development institutions. We are concentrating our efforts on ensuring that all measures of administrative and financial support will be consolidated by March. This will be an end-to-end product. This will enable us to help exporters, help manufacturers. Through a network of regional banks, we will support small and medium-sized businesses.»

An important objective at this stage is to develop a modern urban economy. «A comfortable urban environment is dependent primarily on micro and small businesses. The government and a municipality can invest in the infrastructure needed by a town. But the comfortable urban environment proper depends on small businesses. In cooperation with Russian Small and Medium Business Corporation, SME Bank and other participants (Sberbank, VTB) we are currently considering what we can give to those involved in Russia’s urban infrastructure modernisation programme. This is what will help Russian towns to grow faster, ensure new quality of life through the growth of a local economy. This is high on our list of priorities," Igor Shuvalov emphasised.

Back

Vnesheconombank Successful in Completing Project to Finance Modern Pig Farming Facility in Bashkortostan

22 october 2018 года
#News
Back

Vnesheconombank has been successful in completing the project to finance the construction of a pig farming facility with a total annual capacity of 42,000 tonnes of live-weight pork. The project initiator is Bashkir Meat Company. The company used funds borrowed from Sberbank to repay its debt to Vnesheconombank (about 3 billion roubles) early in full.

«With Vnesheconombank’s support, the company built a modern animal production facility. The project contributes to the sustained development of agricultural production, import substitution for meat products and the country’s enhanced food security. Vnesheconombank accomplished its objective as a development institution, ensuring the completion of a project in a strategic industry on the principles of return on investment and break-even results. The new production facility will enable the borrower to implement a new project with the participation of a commercial bank," Vnesheconombank’s First Deputy Chairman and Member of the Board Nikolay Tsekhomskiy said.

The Bank became involved in the project in 2012, when Vnesheconombank and Bashkir Meat Company entered into a loan agreement for 5 billion roubles. Bashkir Meat Company ranked among Russia’s 20 largest pork producers in 2017 (source: http://www.nssrf.ru).

In the second quarter of 2018, the company sold 25,200 tonnes of pork, with its net profit reaching 400.5 million roubles. With Sberbank’s support, the borrower is currently carrying out a project to create a genetic selection centre worth 3.7 billion roubles.

Back

Электронный офис клиента в разработке

Закрыть
Write a letter
The following required fields are missing: Your name
The following required fields are missing: Your e-mail
The following required fields are missing: Your message
Your message has been sent.
Leave feedback

It is important for us to know your opinion about the bank in order to make our work even better.

The following required fields are missing: Your name
The following required fields are missing: Your company
The following required fields are missing: Your e-mail
The following required fields are missing: Your message
Your message has been sent.