Igor Shuvalov: ‘Integration in Large Eurasia Will Make Us More Competitive’

22 february 2019 года
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VEB.RF’s Chairman Igor Shuvalov visited the People’s Republic of China. He took part in the meeting of the CEOs of SCO IBA member banks in Sanya. The meeting was aimed at promoting regional financial cooperation and inclusive development. The event was also attended by top managers of global financial institutions (New Development Bank, Asian Infrastructure Investment Bank), senior executives of Silk Road Fund, representatives of the Chinese Government, and leading economists and experts.

Igor Shuvalov noted in his speech that the Shanghai Cooperation Organisation was an effective platform to synchronise national development strategies and multilateral projects and integrate the Eurasian Economic Union, the Belt and Road Initiative and the North-South Transport Corridor.

He emphasised: “The SCO is a unique organisation, with its member countries’ total population exceeding 3 billion people (40% of the global population) and its total GDP (PPP) approximating to 30% of global GDP.” According to Igor Shuvalov, the SCO is a solid organisation with enormous political potential; therefore, it requires facilitated economic development, which involves close cooperation among financial institutions.

VEB.RF’s Chairman also mentioned the currency risk problem faced by development banks. He emphasised the necessity to identify new instruments so as not to cause further difficulties for banks’ borrowers and customers. “We need to broaden the range of currencies used in interbank cooperation and to make extensive use of national currencies in mutual settlements. We should treat the currency risk as a common problem confronting all development institutions,” he said.

Igor Shuvalov informed the partners about the key transformation areas and broader powers of VEB.RF aimed at implementing the May presidential decree: “There will be plenty of opportunity for development institutions to coordinate their activities, including in the urban environment and municipal economy. VEB.RF will work together with commercial banks in all existing sectors of cooperation to accomplish the goals of national development.”

During the visit, Igor Shuvalov met with CDB’s Chairman Zhao Huan, the SCO’s Secretary-General Vladimir Norov and Belarusbank’s Chairman Victor Ananich.

Note:

During an official visit of Russian President Vladimir Putin to China, Vnesheconombank and China Development Bank signed an agreement in Beijing in June 2018 to financially support the integration of the Eurasian Economic Union and China’s Belt and Road Initiative. In September 2018, during the Eastern Economic Forum, the two banks signed a loan agreement to finance joint projects. According to VEB’s Chairman, several large-scale projects are currently being evaluated under the loan agreement.

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Short-Term Exchange-Traded Bonds Issued by VEB.RF

22 february 2019 года
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VEB.RF issued short-term bonds in an additional placement to companies and corporations on 20 February 2019.

The Bank raised 15.8 billion roubles from bonds with a maturity of 14 days and a coupon of 7.63% p.a.

The par value of one bond is 1,000 roubles. The bonds were sold at 100% of their par value. The coupon is payable at maturity.

The arrangers of the bond issue are Gazprombank and Svyaz-Bank.

The bonds are on the Moscow Exchange’s Quotation List Level 1. The depository is National Settlement Depository.

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Order Book Closed for VEB.RF’s PBO-001R-15 Exchange-Traded Bonds

22 february 2019 года
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State Development Corporation VEB.RF closed the order book for VEB.RF’s PBO-001R-15 exchange-traded bonds on 21 February 2019. Investors were offered bonds placed under the programme of exchange-traded bonds.

The Bank raised 5 billion roubles; the maturity of bonds is 2 years; the coupon rate is 8.73%.

The par value of one bond is 1,000 roubles. The bonds were sold at 100% of their par value.

The PBO-001R-15 bonds will be listed on the Moscow Exchange as from 28 February 2019.

Securities depository: National Settlement Depository.

Bookrunners: BC REGION, Russian Regional Development Bank, GazPromBank, VTB Capital, Rosselkhozbank.

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VEB.RF Hosts Meeting of Project Working Group on Small and Medium-Sized Businesses and Individual Entrepreneurial Initiative Support

21 february 2019 года
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The first meeting of VEB.RF’s project working group, chaired by Deputy Chairperson Marina Romanova, involved in the national project for Small and Medium-Sized Businesses and Individual Entrepreneurial Initiative Support took place on 20 February 2019.

The meeting was attended by experts from VEB.RF, RSMB Corporation, SME Bank, REC, DOM.RF, the Far East and Baikal Region Development Fund, VEB-Leasing, the Russian Presidential Academy of National Economy and Public Administration, VEB Innovations, OPORA RUSSIA All-Russian Public Organisation of Small and Medium Business.

VEB.RF’s working group will contribute to strengthening the strategic partnership among development institutions, setting priorities, creating advanced solutions for SME support and suggesting new approaches to boosting entrepreneurship, including the urban economy projects.

The participants also discussed the need to make preferential lending and leasing products more accessible to entrepreneurs (including in the Far Eastern Federal District), the prospects for SME involvement in major investment and infrastructure projects, the better use of export opportunities and the challenges of gaining entry into foreign markets.

“Small and medium-sized businesses play an essential role in economic development. Encouraging entrepreneurial initiative can increase both employment and production efficiency. The coordinated activities of development institutions in this area will significantly accelerate the development process. In this context, VEB.RF’s large-scale projects can generate the demand for SME products and services,” Marina Romanova said.

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Gorod Joins Digital Healthcare Consortium

15 february 2019 года
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The agreement was entered into during the Russian Investment Forum in Sochi. The document was signed on behalf of Gorod by its CEO Sergey Kalugin. The consortium was founded in February 2018. Its members are the Almazov National Medical Research Centre, ITMO University, the Faculty of Economics of Lomonosov Moscow State University, Rusatom Healthcare, Shvabe, and several other companies and research and educational centres.

The principal goal of the consortium is to use digital technology to enhance the efficiency of public health services in Russian regions. The Digital Healthcare Consortium also aims to develop and coordinate basic technological standards for digital health in Russia, test technologies and architectures and ensure that they come into use in the form of products, services and projects.

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