Sberbank of Russia, Vnesheconombank, Gazprombank and Alfa-Bank Implement Financial Projects with the Republic of Belarus

30 december 2009 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, Sberbank of Russia (OJSC), OJSC Gazprombank and OJSC Alfa-Bank extended a syndicated loan worth 6 billion rubles to the Finance Ministry of the Republic of Belarus. The tenor of the loan is more than 1 year. Sberbank of Russia was appointed as agent for the loan.

The Republic of Belarus is Russia’s important trade-economic and foreign policy partner. The syndicated loan extended to the Republic of Belarus by leading Russian banks will be used to promote integrative and cooperative ties between the two countries and will contribute to sustainable economic growth of Belarus.

Furthermore, Sberbank of Russia, Vnesheconombank, OJSC Gazprombank and OJSC Alfa-Bank are appointed as organizers responsible for placing Belarusian government bonds denominated in the currency of the Russian Federation on the Russian stock market. The total amount of the bond issue is to be 15 billion rubles.

The issue of Belarusian bonds denominated in the currency of the Russian Federation will be the first issue of foreign bonds on the Russian stock market.

State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ is one of the key instruments of government investment policy. The Bank’s activity is aimed at overcoming economic growth infrastructural restrictions, modernizing and expanding non-raw materials economy, as well as supporting Russian exports. Vnesheconombank is taking strenuous efforts to promote economic cooperation between Russia and the Republic of Belarus.  In 2008, Vnesheconombank and the Belarusian Government signed a Memorandum on Cooperation calling for increasing the Russian ruble share in foreign trade payments between the two countries.

OJSC Sberbank of Russia is the largest bank in Russia, Central and Western Europe. It accounts for 30% of the Russian banking system’s assets and is a major creditor of the national economy. The Central Bank of the Russian Federation is Sberbank’s founder and principal shareholder (more than 60% of voting shares). The Bank’s shareholders are more than 250 thousand natural and legal entities. The Bank has the most extensive branch network in Russia: 18 territorial banks and more than 20 thousand branches and internal structural divisions as well as subsidiary banks in Kazakhstan and Ukraine.

 

Origins: 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

 

Public Relations Department    OJSC Sberbank of Russia
Contact person: Alexandr Baziyan
Phone: +7 (495) 957-57-21
E-mail: media@sbrf.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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