Memorandum of the Bank’s Financial Policy Approved

12 july 2007 года
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Moscow. July 12. INTERFAX — At Thursday’s meeting of the Bank Supervisory Board a Memorandum of the Bank’s Financial Policy was approved, said VEB Chairman Vladimir Dmitriev. «The Memorandum specifies the Bank’s core lines of business associated with overcoming infrastructure growth limitations, support for high-technology productions, rational use of natural resources, support for small and medium-size business and industrial exports," Vladimir Dmirtiev told journalists on Thursday. He also said that the Memorandum specifies criteria for selecting investment projects, with these criteria dealing with the size of investment projects and their payoff periods. Furthermore, the Supervisory Board approved limits, the Bank’s operational standards and basic provisions of the Bank’s financial policy. «Their aim is to ensure the Bank’s sustainable development and financial stability," emphasized Vladimir Dmitriev. According to Vladimir Dmitriev, from today on, the Bank management bodies start to work at their full capacity, therefore, relevant documents are to be approved by the Government.

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Agreement Signed between Vnesheconombank and Republic of Bashkortostan

6 july 2007 года
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Today on July, Vnesheconombank and the Republic of Bashkortostan signed an Agreement on Cooperation to carry out the project “Infrastructure Support for the Ufa Urban District Comprehensive Development.”

The Agreement was signed by VEB Chairman Vladimir Dmitriev and President of Bashkortostan Murtaza Rakhimov.

This Agreement aims to establish strategic partnership, promote long-term cooperation and organizational interaction, work out mechanisms for investment and banking services, coordinate the two parties’ efforts in carrying out this project intended for the socio-economic development of the city of Ufa, specifically, for building the city’s infrastructure.

Under the Agreement the two sides are determined to make joint efforts to carry out this project using mechanisms of public and private partnership and, among other things, using resources of the Russian Investment Fund in the following sectors: housing and industrial designing and construction, the transport system development including building motorways, constructing and reconstructing water supply and water diversion systems, building power grids and housing and communal services facilities.

The Agreement provides for the Republic’s Government to assist in coordinating efforts made by republican executive authorities to create favorable conditions for implementing this project, ensuring its financing and support from the state.

At the same time, there are plans to establish the Ufa development corporation for the comprehensive development of the said Ufa urban district, with an appropriate land area being provided. Both the Government of the Republic and Vnesheconombank will render assistance in establishing this corporation.

 

Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 208-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru

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Vnesheconombank and Tatarstan Government Sign Agreement

5 july 2007 года
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Today on July 5, Vnesheconombank and the Government of the Republic of Tatarstan signed an Agreement on Cooperation.

The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and Tatarstan’s Prime Minister Rustam Minnikhanov.

This Agreement aims to establish strategic partnership and promote long-term cooperation.

Under the Agreement the two sides intend to take joint action to make arrangements to finance investment projects in the Republic’s top-priority economic sectors such as fuel and petrochemical industry, manufacturing and processing of agricultural products, energy industry radioelectronics, instrument building, aircraft building, mechanical engineering and construction materials industry.

In order to pursue certain lines of cooperation the two sides are going to enter into specific agreements and set up joint working groups to examine and carry out projects.

 

Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 208-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru

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Vnesheconombank and OJSC Ammonii Sign Protocol of Intentions

5 july 2007 года
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Today o July 5, Vnesheconombank and OJSC Ammonii signed a Protocol of Intentions.

The Protocol was signed by Vnesheconombank Chairman OJSC Ammonii General Director Nikolay Reshetnikov.

The Protocol aims to arrange for cooperation and work out mechanisms for investing, funding and servicing the investment project “The Construction of an Integrated Plant to Manufacture Ammonia, Methanol, and Carbamide at OJSC Ammonii facility in the city Mendeleevsk with a total capacity of 1,434 thousand tons. The Project’s value is estimated at 800 million US dollars. Japanese company Mitsubisi Heavy Industries was approved as a contractor to supply packaged equipment.

Under the Protocol the two sides will regard each other as top-priority partners in carrying out this project.

Vnesheconombank is also going to act as a strategic investor through acquiring a stake of Ammonii, the amount of which will be determined by a separate agreement between the two sides.

The Protocol provides for the Government of Tatarstan to give OJSC Ammonii state and financial support with due regard to the project’s pay-off periods and to prepare required proposals to the Federal executive authorities for providing support upon carrying out this project. Under the Protocol the Government will also finance a state order for the Republic of Tatarstan to purchase ammonium nitrate and will ensure its participation in OJSC Ammonii authorized capital at 10% of authorized capital.

The Protocol was signed to build on Agreement signed the same day on establishing strategic partnership and promoting long-term cooperation with the Republic of Tatarstan.

 

Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 208-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru

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Vnesheconombnk Supervisory Council’s First Meeting

28 june 2007 года
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Today, on June 28, 2007, the first meeting of the state corporation “The Bank for Development and Foreign Economic Affairs (Vnesheconombank)” was held in the House of the Russian Government. The meeting was presided by Russian Prime Minister Mikhail Fradkov.

The Supervisory Council approved the members of Vnesheconombank’s Board. Nikolay Kosov, Anatoly Zabaznov, Sergey Lykov, Alexey Smirnov, Vladimir Shaprinsky, Anatoly Ballo, Petr Fradkov, Sergey Vasiliev were appointed as members of the Board. Board Chairman Vladimir Dmitriev will be responsible for running Vnesheconombank’s Board.

The Supervisory Board also appointed Vyacheslav Ulupov as Head of Vnesheconombank Internal Control Service.

 

Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 208-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru

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