On Signing Agreement between Vnesheconombank and the UN Development Programme

30 december 2009 года
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Today, on December 30, 2009, 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’.

On behalf of Vnesheconombank, Anatoly Ballo, member of the Board - Deputy Chairman, signed the Documents. Frode Mauring, Resident Representative in the Russian Federation, represented UNDP.

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.

Within the framework of the Project, it is envisaged to establish PPP Expert Council to include representatives of federal executive and legislative bodies, business community, development institutions and international organizations. The key objectives of the Council will comprise arranging public debates to explore possible managerial and technological solutions, making recommendations and proposals to amend federal and regional legislative and regulatory framework, as well as rendering expert assistance in planning and implementing pilot projects.

Pilot projects embrace the following areas: water supply and wastewater disposal, treatment of wastes from consumption and production, energy efficiency, transport infrastructure development, construction and maintenance of social infrastructure facilities, housing construction and a mortgage program.

Vnesheconombank and UNDP will jointly select regions and projects. In doing so, they will be guided by regional and local authorities’ preparedness to implement strategies for economic development adopting a PPP approach, i.e. to introduce necessary amendments to a legal and regulatory framework and revise the existing or adopt new PPP-based long-term target programmes. Equally important is their willingness to ensure access for private operators to regional markets as a policy response to the goal of competition promotion.

Upon the Parties’ agreement, Alexander Bazhenov, Vnesheconombank’s PPP Centre Director, is appointed as National Director of the Project.

Vnesheconombank’s PPP Centre was established in 2008 to support and develop infrastructural projects of national, regional and municipal dimension applying PPP instruments. By now, Vnesheconombank has concluded a number of agreements with constituent entities of the Russian Federation aimed at rendering support and arranging financing for PPP projects. Vnesheconombank participates in project delivery in the Rostov, Sverdlovsk and Kaluga regions, as well as other constituent entities of the Russian Federation.

United Nations Development Programme (UNDP) is the United Nations major agency for development. UNDP advocates transformations and provides access to specialist knowledge, expertise and resources in order to improve the living standards of people. UNDP operates in 166 countries assisting them in identifying their own solutions to problems of global and national development. Presently, due to changes in Russia’s international status and its increasingly important role as a global donor, UNDP gives its major priority in Russia to addressing regional development needs.

 

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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Vnesheconombank Starts Financing the Urengoy Electric Power Station Construction Project

29 december 2009 года
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Vnesheconombank has provided the first tranche of about 1 billion rubles to finance the Urengoy Electric Power Station Construction Project (the city of Novyi Urengoy) subject to the credit agreement signed earlier with OJSC INTER RAO EES under which Vnesheconombank is to extend a bridge-credit worth 8 billion rubles.

The Urengoy Electric Power Station Construction Project is being implemented under the General Scheme for the Deployment of Electric Energy Facilities till 2020. The Scheme was approved by the Russian Government’s Order. The project is designed to secure the Tyumen energy system’s stability, supply power to the region’s oil and gas producing companies and create favorable conditions to maintain and increase hydrocarbons production levels. The project is being implemented with the use of the latest steam and gas technologies enhancing its energy efficiency.

Vnesheconombank’s participation in financing this project has been approved by VEB’s Supervisory Board.

Under Vnesheconombank’s Memorandum on Financial Policies, one of the Bank’s most important lines of investment activity is its participation in projects aimed at improving the energy infrastructure and boosting the Russian economy’s energy efficiency.

 

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 Results of the Auction to Place Pension Savings Funds on Deposits in Credit Institutions

29 december 2009 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ held an auction to place pension savings funds on deposits in credit institutions on December 29, 2009.

Auction results:

Date of deposit auction December 29, 2009
Period of placing funds 90 (ninety) days
Amount of funds offered at the auction 13 500 million rubles
Date of placing funds December 29, 2009
Date of refunding funds March 29, 2010
Minimum interest rate on funds to be placed on deposits in credit institutions, % per annum 7,70 %
Amount of placed funds 6800 million rubles
Amount of bids 6800 million rubles
Number of bids made 16
Number of transactions 16
Weighted average rate 8,34%

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On Launching an Automobile Assembly Plant in the Far East

29 december 2009 года
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In the course of Russian Prime Minister Vladimir Putin’s working trip over the Far East a ceremony of launching SsangYong off-road vehicles assembly plant in the city of Vladivostok was held.

The project that was implemented in a timely fashion is fully financed through a long-term credit extended by the Bank for Development.

The credit agreement with SOLLERS – the Far East providing for Vnesheconombank to finance the project to build an automobile assembly production facility with a wide range of products (SsangYong off-roaders, ISUZU, Fiat Ducato lorries) in the Primorsky Territory (the city of Vladivostok) worth 1.8 billion rubles was signed in September of 2009.

The Far -Eastern automobile assembly production facility’s rated capacity is at least 10 thousand automobiles per year.

OJSC SOLLERS is a Russian automobile company that provides a full range of services on manufacturing, selling and servicing automobiles.

 

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 Holding a Workshop-Conference with Administrators of Mono-Profile Populated Areas

28 december 2009 года
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In order to develop basic approaches to working out comprehensive innovative plans of developing mono-towns, a workshop-conference with administrators of mono-profile populated areas of the Khabarovsk region and the Primorasky Territory was held on December 26-27, 2009 in the city of Khabarovsk.

The Working Group on Modernizing Mono-Towns under the Governmental Commission on Enhancing the Russian Economy’s Sustainable Development and State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ acted as the organizers of the event.

The workshop’s participants discussed basic principles of working out a strategy of developing mono-towns as well as the Nizhny Tagil Administration’s experience in developing a comprehensive innovative plan of the city’s development. After the said issues were presented and discussed, recommendations for administrators of mono-profile towns were formulated. The workshop’s participants heard out the reports by the heads of municipal entities and discussed strong and weak points of mono-towns and mono-settlements, their potential and possible mechanisms for implementing plans of development.

In attendance of the event were Head of the Working Group on Modernizing Mono-Towns under the Government Commission on Enhancing the Russian Economy’s Sustainable Development, Vnesheconombank Deputy Chairman Irina Makieva, Russia’s Regional Development Deputy Minister Yury Osintsev, representatives of the Sverdlov region, the Federal Project Financing Center and the expert community as well as administrators of mono-profile populated areas of the Khabarovsk region and the Primorsky Territory.

The workshop’s participants paid a working visit to the mono settlement of Svetlogorje in the course of which representatives of the Working Group visited the settlement’ township-forming enterprises, a secondary school and an orphanage. They also attended a meeting chaired by First Deputy Prime Minister Igor Shuvalov. They discussed problems faced by this mono profile settlement and potential lines of its further development.

Vnesheconombank’s Representative Office in the city of Khabarovsk was responsible for providing organizational and technical support for the workshop.

 

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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