On Financing the Project Aimed at Creating an Agro-Industrial Complex in the Chechen Republic

30 december 2009 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and OJSC Chechenagroholding entered into a credit agreement on extending financing for implementing the investment project aimed at creating an agro-industrial complex in the Chechen Republic.

The Agreement was signed by Management Board Member – Vnesheconombank Deputy Chairman Anatoly Ballo and – by OJSC Chechenagroholding General Director Ahmed Dachiev in the presence of Chechen Prime Minister Odes Baisultanov.

The project is aimed at rebuilding and developing the agro-industrial complex in the Chechen Republic and it includes the following sectors: meat and dairy stock-raising, sheep breeding, meat and pedigree horse breeding, poultry farming, plant growing, industrial fish breeding.

The project’s total value is 6.8 billion rubles including credit resources worth 5.3 billion rubles raised by Vnesheconombank. The project’s financing period is 10 years.

The project provides for a full cycle agricultural products manufacturing – from fodder growing and fodder conservation to building their own stock-raising and plant growing products processing facilities as well as for a large-scale recultivation of lands and restoration of qualitative characteristic of livestock population. The project’s implementation will result in building more than 180 agricultural and infrastructure facilities.

The project is being implemented under the Republican Target Program of Socio-Economic Development of the Chechen Republic for 2008-2011 and the Program of the Chechen Republic’s Innovative Development for 2009-2012.

It’s for the first time that Vnesheconombank is participating in implementing an investment project in the Chechen Republic. Vnesheconombank’s participation in implementing the project will boost sustainable socio-economic development, ensure food security and strengthen stability in the Chechen Republic as well as create 3 thousand new jobs and help to promote the development of subsidiary plots and related production facilities.

 

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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