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