On Making Payments On Government Foreign Currency-Denominated Bonds

23 july 2010 года
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In accordance with the terms of issuing Eurobonds and on the Russian Finance Ministry’s instructions State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ made a payment for a total amount of 190 651 890 US dollars to pay interest on the 1998 Eurobonds.

The funds were transferred to Citibank N.A., London Office.

Eurobonds were issued for an amount of 3 466 398 000 US dollars for a period of 20 years with coupons to be paid twice a year.

 

Origin: 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 the first meeting of the Coordinating Council of the joint project of Vnesheconombank and UNDP ‘Development of public-private partnership in Russia’

22 july 2010 года
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On July 22, the first meeting of the Coordinating Council of the joint project of the State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and United Nations Development Programme (UNDP) ‘Development of public-private partnership in Russia’ was held (hereinafter referred to as the Project).

The Coordinating Council of the Project is a deliberative body comprising the heads of the Executive Agency (VEB) and the Implementing Agency (UNDP), the representatives of federal authorities, the Heads of the regions of Russia selected as the demonstration regions of the Project, the business community. The head of the Board is Alexander Bazhenov, Director of the Public-Private Partnership Centre in Vnesheconombank and National Director of the Project.

The Meeting addressed issues on the implementation of the Project in the 1-st half 2010 and the work plan for the remainder of the year. To the date the Murmansk and the Chelyabinsk regions were selected to participate in the Project as demonstration territories. The UNDP and the VEB signed the relevant Memorandum of Cooperation with these two subjects of the Russian Federation. The Yaroslavl and the Kaliningrad regions are approved for participation in the Project. The heads of the other regions and municipalities submitted the application for participation in the Project. By now a number of procedural issues of the Project implementation are solved. Until the end of 2010 it is decided to develop fundraising procedures on PPP projects’ preparation in the regions. Besides that the joint project stipulates trainings of regional and municipal authorities on PPP mechanisms using. Also the recommendations with regard to the PPP mechanisms will be developed to improve legislation and implementation of the long-term target programs.

Yuri Osintsev, State Secretary-Deputy Minister of Regional Development, and Anatoly Popov, Deputy Minister of Regional Development, attended the first meeting of the Coordinating Council of the joint project.

December 30, 2009 the State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” and United Nations Development Programme (UNDP) signed a Project Document and Cost Sharing Agreement under Joint Project ‘Development of Public-Private Partnerships in Russia’.

The Project is focused on enhancing Russia’s potential for public-private partnership (PPP). To this end, the Project provides for improvement of the federal and regional legislative framework, introduction of innovative managerial and financial instruments in the PPP area, developing the potential of the existing and newly established PPP centres, as well as for implementation of pilot (demonstration) projects in the Russian regions and CIS-countries with subsequent dissemination of the experience. The Project is designed to ensure quality and dynamic development of human potential in the Russian regions.

The Project is to be implemented with the participation of federal legislative and executive bodies, specialized agencies, UN programmes, regional administrations and municipalities, private operators, regional banks, environmental organizations, as well as other interested parties.

Vnesheconombank’s PPP Centre will act as Project Coordinator.

 

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

 

Press Office of UNDP
Phone: (495) 787-21-00, Fax (495) 787-21-02
E-mail: office@undp.ru

 

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