At a regular meeting of Vnesheconombank’s Supervisory Board a decision was taken to add the procedure for Vnesheconombank’s implementation of measures provided for by clauses 4 and 6 of Federal Law dated October 13, 2008 № 173-FZ «On Additional Measures for Supporting the Financial System of the Russian Federation» with a requirement for a minimum amount of equity of no less than 3.5 billion rubles for banks to be able to obtain subordinated loans.

Moreover, requirements to borrower banks for lending to the real economy were made more stringent, now they are to secure for a period of one year from the date of obtaining a subordinated loan availability of credits in their loan portfolio to be extended to high-priority economic sectors in line with recommendations of the Russian Economic Development Ministry, with repayment periods of no less than one year at an effective rate not exceeding the Bank of Russia’s refinancing rate increased by three percentage points in the amount no less than the sum of obtained subordinated loan and they are also to maintain the volume of such credits until they repay a subordinated loan.

Vnesheconombank’s Management Board was ordered to hold talks with borrowers over their agreement with the said terms of obtaining subordinated loans.

Vnesheconombank’s Supervisory Board made a decision to extend subordinated loans to the following Russian lending institutions: CJSC JSCB NOVIKOMBANK in the amount of 478 719 000–00 rubles, OJSC JSCB ROSEVROBANK in the amount of 980 000 000–00 rubles, OJSC TransKreditBank in the amount of 2 930 000 000–00 rubles, OJSC Bank Saint-Petersburg in the amount of 1 466 000 000–00 rubles JSCB Transkapitalbank (CJSC) in the amount of 729 998 500–00 rubles, OJSC Pervobank in the amount of 725 000 000–00, OJSC SKB-bank in the amount of 810 000 000–00 rubles, OJSC Promsvyazbank in the amount of 4.000.000.000-00, OJSC Bank ZENIT in the amount of 2 140 000 000–00 rubles, CJSC Bank Russky Standard in the amount of 4 958 783 400–00.

The Supervisory Board also approved a decision on extending by Vnesheconombank a credit line with a limit of up to 10 billion rubles for a period of up to 15 years to the winner of the tender held by the Administration of Saint-Petersburg for the right to conclude an agreement on building, reconstructing and operating facilities incorporated in the assets of the Pulkovo airport on the basis of public private partnership.

The Supervisory Board also approved Vnesheconombank’s participation in financing the project to build a propylene manufacturing complex with a capacity of 500 thousand tons a year at Tobolsk-Polymer (LLC) (the Tyumen region) by way of opening credit lines for Tobolsk Polymer (LLC) for a period of up to 13.5 years.

Origin: Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru