On Financing the Far Eastern Deep Timber Processing Integrated Facility Construction Project

6 december 2010 года
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In the course of the United Russia Party’s Interregional Conference “Development of the Far East 2010-2012” State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ entered into an Agreement on providing credit resources worth 97.3 million US dollars to OJSC Dallesprom (incorporated in the Evraz Group S.A.).

Credit resources are intended for financing the first stage of the Far Eastern Deep Timber Processing Integrated Facility Construction Project. The Project provides for the construction of a sliced veneer production facility with an annual capacity of 300 thousand cubic meters in the city of Amursk (the Khabarovsk Territory). The total value of the production facility’s first stage is 139 million US dollars.

The Concept for Constructing a Far Eastern Deep Timber Processing Integrated Facility in the Khabarovsk Territory provides for building a complex complementary timber processing production facilities ensuring a non-waste use of timber logged by OJSC Dallesprom. The Project is to be implemented in two stages.

The first stage of the Project aimed at constructing an integrated facility is included in the list of top-priority timber development projects. The project’s implementation would create 232 new jobs in the city of Amursk, annual budget revenues in budgets of all levels are expected to amount to 253 million rubles.

The second stage of constructing a Far Eastern deep timber processing integrated facility provides for increasing industrial output volumes of sliced veneer, dried sawn timber, creating pulp chips and MDF plates production facilities as well as for launching production facilities to manufacture pulp in the amount of 700 thousand tons per year.

Vnesheconombank’s corporate governance bodies approved the Bank’s participation in ten projects implemented on the territory of the Far Eastern Federal District. The total value of these projects is more than 144 billion rubles, with Vnesheconombank’s participation share being more than 68 billion rubles.

The projects financed with Vnesheconombank’s participation include: the project to construct a timber processing complex to manufacture chipboards and sawn timber in the Vanino district (the Khabarovsk Territory), the project to build a family of Russian Sukhoi Superjet 100 regional aircraft, the project to reconstruct and upgrade the Khabarovsk oil refinery, the project to build a new passenger terminal in the Vladivostok International Airport, the project to build an automobile and auto components production facilities in the Primorsky Territory and others.

 

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

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On Signing Agreement between Vnesheconombank and UBI Banca

3 december 2010 года
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As part of interstate Russian-Italian summit consultations in the city of Sochi (Krasnaya Polyana), State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Italian Banking Group Unione di Banche Italiane Scpa (UBI Banca) entered into an Agreement on Cooperation in developing small and medium-sized enterprises (SMEs).

On behalf of Vnesheconombank the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev, on behalf of UBI Banca – by Deputy Director General responsible for international affairs Ettore Medda.

The Agreement aims to promote cooperation with Italy’s financial institutions in providing support for small and medium-sized enterprises as well as to finance projects aimed at innovative development and modernization.

Under the Agreement the UBI Banca Group is to provide financial resources in the total amount of up to 50 million euros, which can be committed both to Russian banks for lending to SMEs against Vnesheconombank’s guarantees and to the Russian Development Bank in order to implement the government program of providing financial support for SMEs. The program is carried out by Vnesheconombank.

Under the Agreement UBI Banca’s credit resources can be also provided to Vnesheconombank or the Russian Development Bank to implement individual projects of interest to Italian enterprises.

The parties expressed confidence that this Agreement’s implementation would help to increase trade exchange between Russia and Italy with respect to projects aimed at providing support for small and medium-sized enterprises.

UBI Banca Group- Unione di Banche Italiane Scpa was established in 2007 through merging BPU - Banche Popolari Unite and Banca Lombarda e Piemontese. The head office is based in the Italian town of Bergamo. The bank is fourth in terms of capitalization in Italy and it has more than 1900 branches in the most developed parts of the country. The Group’s international network includes 5 representative offices including the one in Moscow. Historically, the bank focuses on retail customers. As of September 30, 2010 UBI Banca’s assets amounted to 131.7 billion euros, its consolidated net profit is 198.0 million euros.

State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank) was established under the Federal Law “On Bank for Development” by way of reorganizing Vnesheconombank of the USSR. Vnesheconombank is a development institution, its activity is aimed at removing economic growth infrastructure restrictions, enhancing natural resources utilization efficiency, developing high-technology industries, unlocking innovative and industrial potential of small and medium-sized enterprises, promoting exports of industrial products and services. 

 

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

 

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The Order of Merit of the Italian Republic Awarded to the Chairman of Vnesheconombank

2 december 2010 года
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As part of the Russian-Italian Forum-Dialogue “Partnership for Modernization” timed to coincide with the 7th round of Russian-Italian bilateral interstate top-level consultations, a ceremony to award the Order of Merit of the Italian Republic Grand Officer Degree to Vnesheconombank Chairman Vladimir Dmitriev was held in the city of Sochi.

The Order was presented by Italy’s Foreign Minister, Co-Chair of the Russian-Italian Council on Economic, Industrial, Monetary and Financial Cooperation Franco Frattini.

The Title of the Grand Officer of the Order of Merit of the Italian Republic was conferred to Vladimir Dmitriev for his great contribution to strengthening Italian-Russian cooperation in the economic and financial sectors and for his energetic efforts to enhance activities of the Russian-Italian Forum-Dialogue within the Framework of Civil Societies, which he co-chairs.

The Order of Merit of the Italian Republic is a State Order of Merit. The Council of the Order is headed by Italy’s President.

The Order is awarded to civil and military government employees for great merits in literature, arts, economy, charity, public and humanitarian activities.

In various years the Order was awarded to First Russian President Boris Yeltsin, film director Nikita Mikhalkov, theatre director Yuri Lyubimov, businessman Vagit Alekperov.

 

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

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Forum-Dialogue “Russia-Italy: Partnership for Modernization”

2 december 2010 года
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An annual meeting of the Russia-Italian Forum-Dialogue within the Framework of Civil Societies “Russia-Italy: Partnership for Modernization” timed to coincide with the 7th round of bilateral interstate top-level Russian-Italian consultations was held in the city of Sochi.

The meeting was conducted by the Forum-Dialogue’s Co-Chairs – Vnesheconombank Chairman Vladimir Dmitriev from the Russian side and Todini Finanziaria President Louisa Todini from the Italian side.

The Forum-Dialogue’s participants summed up their performance for 2010 and discussed new promising lines of cooperation in various sectors and among other things within the framework of a Year of Russian Culture and the Russian Language in Italy and a Year of Italian Culture and the Italian Language in Russia scheduled to be held in 2011.

In the course of the meeting round-table discussions were held on the following subjects:

  • Business-Dialogue (issues of modernization in key economic sectors, use of public-private partnership mechanisms, development of small and medium-sized enterprises);
  • Issues of religion and education. Teaching religion in a secondary school as a factor of the modern society’s innovative development: Russia’s and Italy’s experience;
  • In the run up to a Year of Russian Culture and the Russian Language in Italy and a Year of Italian Culture and the Italian Language in Russia;
  • Establishment of civil society in Italy and Russia. Civil society’s role in modernization processes.

The speakers at the closing plenary session were: Co-Chairs of the Russian-Italian Council on Economic, Industrial and Monetary and Financial Cooperation – Deputy Prime Minister, Russian Finance Minister Alexei Kudrin and Italian Foreign Minister Franco Frattini, Russian President’s Special Representative for International Cultural Cooperation Mikhail Shvydkoi.

In attendance of the meeting were Forum-Dialogue’s members, participants in Russian-Italian interstate top-level consultations, executives of Russia’s and Italy’s companies and financial institutions, scientists, cultural and education workers.

The Russian-Italian Forum-Dialogue within the framework of civil societies was established in 2004 on Vladimir Putin’s and Silvio Berlusconi’s initiative. The Forum aims to form new promising lines of cooperation, develop an infrastructure of bilateral relations at a nongovernmental level in economy, science and education, cultural and humanitarian ties within the framework of nongovernmental and voluntary organizations.

The following events were held in 2010 as part of the Russian-Italian Forum-Dialogue’s activity: the round-table discussion “Providing Support for Small and Medium-Sized Enterprises: Experience of Russia and Italy (the city of Kaluga, June), the round-table discussion “Russian-Italian Cooperation in Modernizing and Laying Foundations for High-Technology Economy in the Russian Federation (the city of Sochi, October), the business-forum ‘Russia and Italy Stepping up Interregional Cooperation” (the city of Yekaterinburg, October), symposium “Ethic Aspects of Banking and Banks’ Social Role: Experience of Russia and Italy” (the city of Moscow, October), the Russian Italian Media Forum (the city of Moscow, November-December). The Forum Dialogue provides a significant support for cultural events: the Festival “Summer Garden of Arts” (the city of Bari, May), a Russian Evening in Milan.

 

Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-83, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

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Vnesheconombank and OJSC RZHD Signed Memorandum on Cooperation in Implementing Infrastructure Projects in Modernizing Railway Stations

1 december 2010 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and Open Joint Stock Company the Russian Railways (OJSC RZHD) signed a Memorandum on Cooperation and Interaction in Modernizing Railway Stations.

On behalf of Vnesheconombank the Memorandum was signed by Vnesheconombank Chairman Vladimir Dmitriev, on behalf of OJSC RZHD – by its President Vladimir Yakunin.

Under the Memorandum the parties intend to promote all-round cooperation and consider the possibility of their joint participation in implementing projects aimed at modernizing railway stations as transport-transfer hubs with an advanced social and business function on the territory of the Russian Federation.

Top priority is to be given to considering projects aimed at reconstructing railway complexes in Sochi, Hosta, Lazorevskoye, Tuapse, Vladimir and Murmansk.

 

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

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