Sberbank of Russia, Vnesheconombank, Gazprombank and Alfa-Bank Implement Financial Projects with the Republic of Belarus
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
Vnesheconombank Starts Financing the Urengoy Electric Power Station Construction Project
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