Commenting on the results of the meeting, Vnesheconombank Chairman Vladimir Dmitriev said at a press briefing that Russia banks and companies submitted to VEB applications worth 78 billion dollars for refinancing foreign debts. According to him, 9.8 billions in applications were made available and out of them 7.5 billion dollars have been already transferred to banks and companies for refinancing their debts. «In the near future, we expect funds to be transferred for conducting a number of transactions, which were approved», said
«VEB is planning to submit a concept for development of its subsidiaries such as the Russian Development Bank, Roseximbank,
Origin: Internet portal of the Government of the Russian Federation
On Agreement between Vnesheconombank and Export Guarantee and Insurance Corporation (EGAP)
State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and Export Guarantee and Insurance Corporation/ EGAP (Czechia) signed an Agreement on Cooperation.
The Agreement was signed by Management Board Member – Vnesheconombank Deputy Chairman Petr Fradkov and EGAP Board Director, Managing Director Pavol Parizek.
The Agreement aims to establish strategic partnership and promote long-term effective and mutually beneficial cooperation in insuring export credits against commercial and political risks as well as in insuring investments.
The Document is a framework agreement and would help to support and boost trade and investments between Russia and Czechia by way of joint insurance and reinsurance of export credits and investments.
The two sides intend to share business experience in insuring export credits against commercial and political risks, help promote the said activity and personnel development, as well as implement joint projects and exchange information on export credits insurance.
EGAP was established in 1992 as a state-run insurance company, which specializes in insuring export credits against territorial and commercial risks as well as investments upon exporting products and services from the Czech Republic. The state is liable for the Corporation’s obligations that emerge on the basis of agreements on insuring export credits. In 1998, EGAP became the first member of the Bern Union among countries of Central and East Europe as an institution of this type.
EGAP is an active member of the Organization for Economic Cooperation and Development Working Group on Export Credits and Guarantees and it cooperates with the largest export credit agencies and export-import banks.
Origin: Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
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