On Opening the Sochi Air Terminal Complex

16 september 2010 года
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A ceremony to open an air terminal complex of the Sochi International Airport took place in the city of Sochi.

State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ acted as a key creditor of the project. In 2009, Vnesheconombank and OJSC the Sochi International Airport signed an Agreement providing for Vnesheconombank to open a credit line for OJSC the Sochi International Airport for an amount of 5.7 billion rubles for a period of 10 years. The funds provided on the principles of project financing were intended for financing the construction of the air terminal complex as well as for refinancing the company’s debt to the federal budget as well as for repaying commercial banks’ credits raised earlier.

Under the Resolution of the Russian Government “On the Programme to Build Olympic Facilities and Develop the City of Sochi as a Mountain Climate Resort”, the Sochi International Airport Modernization Project was granted a status of Olympic facility.

OJSC the Sochi International Airport is incorporated in the aviation sector of Bazovyi Element Company. Since 2007 the airport has been managed by Bazel Aero. Bazel Aero was established in 2007 and is a company responsible for managing airports. The Sochi International Airport is among Russia’s ten largest airports and ranks as seventh by passenger flow.

 

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 Publishing the Financial Services Sector Supplement in Russian

15 september 2010 года
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The Global Reporting Initiative (GRI) published on its official site a Russian version of the Financial Services Sector Supplement to the GRI Guidelines. Earlier the Sector Supplement was available only in English.

Vnesheconombank translated the Sector Supplement under the Agreement on Granting Vnesheconombank an Official Translator’s Status. The Agreement was signed in 2009. In order to confirm the quality and authenticity of the translation as well as its correspondence to the original version independent reviewers were engaged from the World Wild Nature Fund (WWF-Russia) and Ernst&Young Company.

The Financial Services Sector Supplement was developed by the Global Reporting Initiative in cooperation with the United Nations Environmental Programme Financial Initiative (UNEP FI) with the participation of working groups formed from representatives of more than 50 foreign financial institutions.

With the publication of the Russian version of the Supplement, Russian financial institutions will be able to prepare non-financial reports in compliance with GRI requirements taking into account the sector specifics upon disclosing indicators of the GRI Guidelines.

The Global Reporting Initiative is an international organization established by the Coalition for Environmentally Responsible Economies (CERES) in partnership with the United Nations Environmental Programme (UNEP) to ensure the highest quality and credibility of sustainability reporting.

The GRI Guidelines are main sustainability reporting standards. They include a list of economic, environmental and social performance indicators showing organizations’ contribution to sustainable development. The following financial institutions use the GRI Guidelines to prepare sustainability reports: Kreditanstalt fur Wiederaufbau (KfW), the Asian Development Bank, (ADB), the Inter-American Development (IDB),the European Bank for Reconstruction and Development (EBRD), the Bank of America Corp, the European Investment (EIB), the China State Development Bank (all in all more than 200 foreign financial institutions).

 

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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