On Payments on Government Foreign –Currency Denominated Bonds

29 september 2009 года
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In accordance with the terms of issuing eurobonds, on the Russian Finance Ministry’s instructions State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ transferred funds in the total amount of 1  543  361 681. 93 US dollars to The Bank of New York to make a regular payment on Eurobonds to repay government foreign debt of the Russian Federation including:

-in the amount of 355  143  789.20 US dollars to repay principal and pay coupons on eurobonds with a final maturity date of 2010;

-in the amount of 1 188 217 892.73 US dollars to repay principal and pay coupons on eurobonds with a final maturity date of 2030.

The payment was made in a single currency.

 

Origin: Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (499) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

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On signing an Agreement between Vnesheconombank and Bayerische Landesbank

25 september 2009 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and Bayerische Landesbank (Germany) signed a Framework Credit Agreement.

The agreement envisages the possibility of raising credit resources by Vnesheconombank in order to finance supplies of equipment and/ or services from Germany and other Organisation for Economic
Co-operation and Development (OECD) member states to the Russian Federation for the purpose of implementing projects aimed at Russian economic development.

Conclusion of the Framework Credit Agreement is a clear demonstration of high level of Russian-German economic cooperation, as well as both bank’s intention to further bolster partnership relations.

Bayerische Landesbank (BayernLB) is one of the largest banks in Germany and was established in 1972. Under its revised strategy, it will concentrate on Small and Medium Enterprises, large corporates, commercial real estate and retail banking segments from now on. BayernLB has strong relationships with German and international customers and is excellently positioned in export and project financing, particularly in the growing renewable energy market. The Bank’s assets as of June 30th, 2009 have amounted to EUR 404,56 billion.

 

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 Signing Memorandum on Cooperation between Vnesheconombank and Plenipotentiary Representative of the Russian President in the Urals Federal District

24 september 2009 года
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Chairman of State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ Vladimir Dmitriev and Plenipotentiary Representative of the Russian President Nikolai Vinnichenko signed a Memorandum on Cooperation.

The Memorandum aims to promote long-term and effective cooperation designed to enhance the socio-economic development of the Urals Federal District and constituent entities incorporated in it.

Under the Memorandum the parties intend to cooperate in raising funds to finance investment projects planned to be implemented on the territory of the Urals Federal District including projects to be implemented on the PPP principles.

The parties believe that one of their high priority lines of cooperation is to enhance the competitiveness of main industrial sectors of the Federal District by way of improving the raw materials base and using mineral deposits of the Polar and Sub-Polar Urals in the course of implementing a comprehensive investment project “Ural Industrial- Urals Polar.

The implementation of this project would help create a favorable investment climate on the territory of the Urals Federal District and raise investments for constituent entities of the Russian Federation incorporated in the District.

 

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 Signing Credit Agreement between Vnesheconombank and LLC Tobolsk Polymer

18 september 2009 года
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In the course of the 8th International Investment Forum “Sochi-2009” State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and LLC Tobolsk-Polymer (a subsidiary of OJSC SIBUR Holding) entered into an Agreement on Providing a Credit Line worth 153 million US dollars.

On behalf of Vnesheconombank the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev, on behalf of LLC Tobolsk-Polymer – LLC SIBUR President (Managing Company of OJSC SIBUR-Holding ) Dmitry Konov.

Credit resources are intended for financing the construction of a modern complex in the city of Tobolsk to manufacture polypropylene with a capacity of 500 thousand tons per year on the basis of deep processing of associate petroleum gas.

This is the first credit line to be opened by Vnesheconombank to finance the project.

The complex construction project is being implemented under the Strategy on the Development of Chemical and Petrochemical Industry in Russia for a period of up to the Year 2015 with the cooperation of the Russian Ministry of Industry and Trade and the Tyumen region Government. The project initiator is OJSC SIBUR Holding.

The project is in line with Vnesheconombank’s core investment activities and is aimed at enhancing the efficiency of natural resources utilization and improving the ecological situation.

The project’s implementation would make it possible to create 4.5 thousand jobs and boost the development of a number of industrial sectors, above all those, involved in manufacturing products for the housing and communal services and the auto making industry.

OJSC SIBUR Holding is the largest Russian petrochemical company. The enterprises incorporated in the Holding manufacture more than one hundred petrochemical items.

 

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 Chairman Vladimir Dmitriev’s Interview to the Information Channel Vesti (The 8th International Investment Forum “Sochi-2009”)

18 september 2009 года
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TV Channel Vesti-24
18.09.2009, 15:30

HOST: We continue to talk with the guests of the Sochi Forum. Our economic analyst Alexandr Karievsky is on the air again and he is ready to introduce our next guest.

Alexandr KARIEVSKY: Yes, of course. Now we’ll talk with Vladimir Dmitriev, Vnesheconombank Chairman. Good afternoon Vladimir Alexandrovich!

Vladimir DMITRIEV: Good afternoon!

Alexandr KARIEVSKY: You are an active participant in the Sochi Forum; you are an active participant in the Olympic Construction. What interesting moments were there in the Forum today?

Vladimir DMITRIEV: As far as the Olympic construction is concerned, interesting moments will start very soon because the next session devoted to Olympic Games will be held and Vnesheconombank, as one of the main institutions responsible for financing Olympic projects, will participate in the discussions. As to the Forum itself, it is as always rich in content. Its program is very interesting.  Today, everybody listened to the Prime Minster speaking at the first plenary session with profound interest. I for one listened to him not only as a representative of state-run business but also as the Chairman of the Bank the Supervisory Board of which is headed by the Prime Minister.

Alexandr KARIEVSKY: Do you remember 6 percent Vladimir Putin talked about?

Vladimir DMITRIEV: Of course, I do. This is a very formidable and challenging task for both business and authorities. In our lending program we at least maintain interest rates that are a lot lower than market ones. And this, above all, applies to Olympic facilities. At the same time, the Prime Minister gave us key objectives of our country’s economic development. Vnesheconombank’s main lines of activity are of course infrastructure and the innovative development of our economy and those industrial sectors Vnesheconombank gives high priority to.

Alexandr KARIEVSKY: What agreements are you supposed to sign here or you are just seeking partners?

Vladimir DMITRIEV: We traditionally attend the Kuban Economic Forum and sign agreements on specific investment projects. This has been also the case this time. We signed an agreement with the Government of the Chechen Republic on Vnesheconombank’s participation in implementing power engineering projects on the Argun river and on financing the construction of a large-scale agro-industrial complex. We have just completed talks with the Rostov region where a major agro-industrial project aimed at industrial production of turkey meat is being implemented with Vnesheconombank’s participation. Now they produce about 15 thousand tons, by spring they‘ll start producing 30 thousand tons of turkey meat per year and now they are starting building production facilities capable of producing 90 thousand tons of turkey meat as well as an industrial complex to manufacture steel constructions that would boost the expanding potential of this region. Today we have signed a symbolic, landmark agreement with Tobolsk Polymer on building a major gasochemical complex in Tobolsk to utilize associated petroleum gas. This is the largest project of such magnitude and such ecological effect in our country and in Europe.

Alexandr KARIEVSKY: Does it cost billions of dollars?

Vladimir DMITRIEV: Yes, it does. The project’s value is 1.5 billion dollars. But we are not embarrassed by these figures because we are raising funds to finance it abroad. We are supplying the most advanced equipment to this complex from European countries. Our partners in Germany – Germany’s Bank for Development, Italian partners and banks help us. So, the project stands a good chance of success and of becoming and an emblematic one in Russia’s economy ad in Siberia in particular.

ALexandr KARIEVSKY: At what interest rates are you raising money abroad? Are they lower than 6 percent or just the same?

Vladimir DMITRIEV: At least, Vnesheconombank’s risk is estimated at a sovereign level and, of course, interest rates at which we raise credits abroad are much lower than those we can count on in the Russian market. Moving back to the signals given by our Prime Minister it is safe to say that both business and authorities have been given clear-cut instructions to reduce inflation, the Central Bank should reduce the refinancing rate and business should be geared to interest rates lower than 10 percent.

Alexandr KARIEVSKY: Vladimir Alexandrovich, another small question to you – are you going to sell shares that you bought last year in the short term or not?

Vladimir DMITRIEV: Traditionally, Vnesheconombank is an active market maker on the securities market. In our investment policy we are geared to generating incomes on the stock market but at the same time we give high priority to stabilizing the Russian stock market. To this end, the government committed 175 billion rubles to Vnesheconombank. The money was earmarked to diversify the portfolio in which financial resources of the National Wealth Fund are invested and as well as to maintain sustainability of the Russian stock market, which is our primary objective.

Alexandr KARIEVSKY: Thank you Vladimir Alexandrovich for finding time for us. I’d like to remind you that we talked to Vladimir DMITRIEV, Vnesheconombank Chairman.

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