On Signing a Letter of Comfort with the Banking Group KfW

15 july 2010 года
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In the course of holding Russian-German consultations at the summit level in the city of Yekaterinburg, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Banking Group KfW signed a Letter of Comfort on Implementing Programs of Cooperation in Supporting SMEs and innovations.

On behalf of Vnesheconombank the Document was signed by Vnesheconombank Chairman Vladimir Dmitriev, on behalf of KfW – by its First Vice President Dr. Lutz Funke.

The Letter of Comfort was signed by to build on the Memorandum of Understanding concluded between Vnesheconombank and KfW on the German-Russian Innovations and Modernization Program. The Memorandum was signed in April of 2010. The Letter of Comfort provides for opening a credit line for Vnesheconombank’s subsidiary bank, the Russian Development Bank, in the amount of 100.0 million euros. The said funds will be used for expanding the current Program of Supporting Small and Medium-Sized Enterprises and will allow to make debt financing more affordable for SMEs involved in implementing innovations and modernization projects.

A letter of comfort is a prerequisite for opening a credit line for the Russian Development Bank.

Vnesheconombank and KfW believe that the opened credit line would improve terms of lending to SMEs including those operating in the innovation sector.

 

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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Vnesheconombank’s Public Private Partnership Center Gives Presentations in the Non Deal Road Show Format

14 july 2010 года
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A series of non deal road show presentations organized by Vnesheconombank’s Public Private Partnership Center (PPP Center) in cooperation with Vnesheconombank’s representative offices in Great Britain and Germany were held from July 5 to July 9 2010 at Vnesheconombank’s representative offices in London and Frankfurt- on-the Maine.

For the most part these events are aimed at giving presentations of Vnesheconombank’s standard projects to develop public infrastructure in energy efficiency, environmental protection and comprehensive urban development sectors on the terms of public-private partnership to attract expertise, advanced technologies and foreign companies’ business experience in order to apply them in investment infrastructure projects.

The presentations were attended by representatives of ministries and departments, financial institutions, various lines of business: specialists of leading construction and engineering companies, equipment suppliers, communal services complex operators, representatives of consulting and legal firms specializing in implementing investment infrastructure projects including Arup, EC Harris, Mott MacDonald Ltd, Berwin Leighton Paisner LLP, UK Trade and Investment, PricewaterhouseCoopers LLP, KPMG LLP, EBRD, Macquarie Group, HOCHTIEF, Fichtner GmbH & Co KG, STRABAG International GmbH, EnBW Energie Baden-Wьrttemberg AG.

The presentations enabled representatives of foreign companies to take a look at the potential for developing business on Russia’s emerging market for PPP projects and make arrangements for further cooperation with the PPP Center on the issues of their possible participation in regional projects.

 

Public-Private Partnership Center established in 2008 is a structural subdivision within State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’. The Center’s main mission is to manage Vnesheconombank’s activity in offering consulting services to government authorities, constituent entities of the Russian Federation, administrations of municipalities and enterprises on arranging PPP projects in need of raising financial resources of the Bank or other 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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