Vnesheconombank’s Guarantee to the Banking Group KfW to Secure Promsvyazbank’s Obligations

16 july 2009 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ provided the Banking Group Kreditanstalt fur Wiederaufbau (KfW), Germany, a guarantee worth 32.8 million US dollars to secure OJSC Promsvyazbank’s obligations under the Banking Group KfW’s long-term credit.

The Credit Agreement between Promsvyazbank and KfW was signed within the framework of “The German-Russian Initiative on Financing Small and Medium-Sized Enterprises” in April 2009. Under the Agreement, KfW is to extend a credit worth 30 million US dollars for a period of 5 years to Promsvyazbank in order to finance small and medium-sized enterprises.

The guarantee was delivered on July 16, 2009 in Munich in the course of a regular round of Russian-German interstate summit consultations.

The Agreement on “The Russian-German Initiative on Financing Small and Medium-Sized Enterprises” was signed by Vnesheconombank and the Banking Group KfW in February 2009.

 

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 Workshops for the China State Development Bank’s Subdivisions Heads at Vnesheconombank

12 july 2009 года
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In the course of implementing the Agreement on Cooperation in training personnel and sharing business experience between the two banks - members of the Shanghai Cooperation Organization Interbank Consortium, workshops for the China State Development Bank’s structural subdivisions heads were held at Vnesheconombank from July 5 to July 12, 2009.

Among the speakers at the workshops were Vnesheconombank’s structural subdivisions heads, experts from the Russian Civil Service Academy under the President of the Russian Federation, the Saint Petersburg State University. The reports and presentations were devoted to topical issues of investment activity, Vnesheconombank’s international cooperation, development institutions’ role in pursuing government investment policy, its priorities and general strategy of Russia’s socio-economic development. The active exchange of business experience in the banks’ main lines of activity, open discussions on approaches being applied in implementing investment projects, mechanisms for their assessment and expert’s examination made it possible to deepen an experts’ dialogue, the establishment and expansion of which has been Vnesheconombank’s and the China State Development Bank’s top priority in the recent years.

In order to provide a clear illustration of information presented the delegation of the China State Development Bank visited a facility invested by Vnesheconombank – the Air-Terminal Complex Sheremetjevo 3. The delegation also attended an in-depth presentation of this facility.

Specially prepared reports made by employees of the China State Development Bank allowed Vnesheconombank’s specialists to take a look at the Chinese Bank’s main lines of activity, the Bank’s experience in financing the Olympic facilities in Beijing and basic elements of the Chinese Development Bank’s personnel management.

Speaking at an official ceremony to open a series of workshops, Management Board Member, Vnesheconombank Deputy Chairman Petr Fradkov emphasized a special role of Vnesheconombank and the China State Development Bank in training personnel. He stressed that the two banks’ experts should cooperate in the current difficult economic situation and should also hold an active and open dialogue in order to be able to work out joint effective measures. “Our previous cooperation shows that a well-thought integration helps the two countries to cope with the crisis and encourages them to work out joint crisis management measures and gives a real chance to integrate the two countries’ economies.”

A workshop devoted to Vnesheconombank’s main lines of activity

In the course of the workshop the China State Development Bank’s employees visited a facility
invested by Vnesheconombank – the Air-Terminal Complex Sheremetjevo 3

 


 

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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