VEB.RF, Development Institutions and METRO Cash & Carry to Launch Integrated Development Programme for Small Urban Trade Businesses

20 march 2019 года
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During the METRO Expo trade fair, VEB.RF, RSMB Corporation, SME Bank, DOM.RF and METRO Cash & Carry signed a cooperation agreement. The parties agreed to encourage SME development and provide support for individual entrepreneurship, such as support for the expansion of a corner shop chain and mobile food businesses.

The parties to the agreement will lend comprehensive support, from the search for shopping premises to financial, guarantee and leasing support for small businesses, agricultural cooperatives and farmers to the expansion of marketing channels through the sale of their products, including as part of the Bean franchise programme.

The agreement was signed by VEB.RF’s Chairman Igor Shuvalov, RSMB Corporation’s General Director Alexander Braverman, DOM.RF’s CEO Alexander Plutnik, METRO Cash & Carry Russia’s General Director Jerry Calmis and SME Bank’s First Deputy Chairman of the Board Denis Ursulyak.

“The creation of a comfortable urban environment is not limited to the implementation of large-scale long-term projects. The agreement that we signed today is a good example of efficient cooperation between development institutions and businesses, where each is ready to offer support measures aimed at helping to grow the food retail chain. Our primary goal is to improve the quality of life,” VEB.RF’s Chairman Igor Shuvalov said.

DOM.RF will offer businesses comprehensive support in relation to commercial real estate and banking services, including providing information on real properties eligible for the programme, DOM.RF Bank’s services and DOM.RF’s direct assistance with project implementation.

“The development of small and medium-sized businesses is essential for creating a comfortable urban environment and infrastructure. The standard of integrated spatial development, which is being defined by DOM.RF, recommends allocating ground floors of residential buildings to small and medium-sized businesses so that people can use a variety of retail outlets and service centres in the neighbourhood,” DOM.RF’s CEO Alexander Plutnik commented.

“Providing businesses with new opportunities to fulfil their potential within the Russian SME segment is of great significance. It is critically important that the initiatives come from major market players with considerable potential and experience that can be shared with small businesses eager to promote cooperation. RSMB Corporation is willing to provide full-scale support for the participants of the METRO Cash & Carry project, including financial, information and other support; project participant selection; assistance to agricultural cooperatives and farmers in expanding their marketing channels,” RSMB Corporation’s General Director Alexander Braverman said.

SME Bank’s First Deputy Chairman of the Board Denis Ursulyak emphasized: “Small and medium-sized businesses help to form the urban environment and foster people’s well-being and comfort. It is extremely important to support this segment. Our agreement consolidates various financial and non-financial measures to support businesses and offers SMEs opportunities for growth. For us, as a bank supporting small and medium-sized enterprises, it is the primary objective and the principal goal.”

METRO Cash & Carry will give domestic entrepreneurs assistance in equipping their retail facilities and provide recommendations and expert assistance for private retailers, specifically under the Bean programme.

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VEB.RF completes repurchase of series 21 bonds

15 march 2019 года
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On 7 March 2019, State Development Corporation VEB.RF completed a repurchase at the request of investors in respect of Series 21 bonds. The total par value of the issue is 15 billion roubles.

The bonds have a coupon rate of 8.82 per cent per annum for a period of three years until the next buyback offer.

In the course of the completed repurchase, VEB bought back 2,273,577 bonds with a total par value of about 2.274 billion roubles.

All the repurchased Series 21 bonds were sold in the secondary market.

Arranger of the repurchase and secondary distribution: Gazprombank.

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

15 march 2019 года
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VEB.RF issued short-term bonds in additional placements to companies and corporations on 13 March and 15 March 2019.

The Bank raised 6.71 billion roubles, including 0.4 billion roubles from bonds with a maturity of 14 days and a coupon of 7.61% p.a. and 6.31 billion roubles from bonds with a maturity of 28 days and a coupon of 7.62% 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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Igor Shuvalov: ‘The Polytechnic Museum Will Become a World-class Interpretive Centre’

14 march 2019 года
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VEB.RF’s Chairman Igor Shuvalov chaired a meeting of the Board of Trustees of the Polytechnic Museum. The meeting discussed a range of issues including the renovation of the museum’s building, the museum’s development concept and the 2019 agenda.

Museum Park will be open to the locals and tourists in Moscow as early as 2019. The area adjacent to the Polytechnic Museum is to be transformed into an innovative public space that will serve as a walking route connecting Central Children’s Store on Lubyanka with Zaryadye Park. The museum’s building will be fully restored to its original appearance.

“We are working on this project in partnership with the Moscow Government. The Moscow Government has met its commitment in full. While passing by the Polytechnic Museum across Lubyanka Square and Novaya Square, you will see how the area around the museum has changed,” Igor Shuvalov said. “The renovation works are scheduled to be completed by the autumn of 2020. The next key project milestone is the creation of a world-class interpretive centre.”

The building is being renovated by one of DOM.RF’s building divisions. The Moscow Department of Cultural Heritage continuously monitors the renovation project. Restoration work is under the scientific supervision of a specialist organisation licensed by the Russian Ministry of Culture.

“The renovation works are now in the final phase. We will unveil the façades and exterior of the building by Moscow City Day. Our next step is to fit out the exhibition and education spaces by November. So, the museum will welcome its first visitors in late 2020, but not in 2021 as previously scheduled,” the Polytechnic Museum’s Director General Yulia Shakhnovskaya said.

The Board of Trustees resolved to re-elect Igor Shuvalov as Chairman of the Board of Trustees and admit Sberbank’s CEO and Chairman of the Executive Board Herman Gref, President of the Russian Academy of Sciences Alexander Sergeev and VEB.RF’s Deputy Chairperson Natalya Timakova to membership of the Board of Trustees.

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VEB.RF Chairman Igor Shuvalov Speaks at Forum of Development Institutions

11 march 2019 года
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Speaking at the Forum of Development Institutions, Igor Shuvalov said: “We at VEB.RF, DOM.RF, REC, and RSMB Corporation are building a true partnership where each works towards the common goals, rather than working independently of each other. We have a unique chance and an opportunity to bring together diverse development aspects, from modernising life at street, neighbourhood and municipality level to developing export potential. We need coordination to accomplish the challenging tasks set by the Russian President.

“We are currently concentrating our efforts on developing a modern urban economy, which is built to a great extent by small businesses. This is where RSMB Corporation has a leading role. DOM.RF is responsible for preparing construction sites, creating a comfortable urban environment, and developing modern approaches in architecture. In partnership with REC, we promote the export of tourism services of Russian cities.

“As for cooperation with other development institutions, we can see the Russian Direct Investment Fund’s leading role in making direct investments, going into partnership with foreign funds, and making equity investments. VEB.RF can be a key player in granting loans and issuing guarantees. We suggest that all innovation issues on the development institutions’ agenda should be coordinated by the Skolkovo Foundation. In this context, our venture capital subsidiary VEB Innovations should work in partnership with Skolkovo while remaining a member of the VEB.RF Group. This is due to the particularities of risk and treasury management at innovation institutions.

“We have recently launched a project to create a shared platform for development institutions. The platform in this simple format should be as easy as possible to understand and use by market participants. Our goal is to insure that they will receive and pay back funds and that capital invested in development will multiply.”

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