State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and OJSC Joint Stock Bank “Russia” entered into an Agreement on Cooperation. The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and OJSC Joint Stock Bank “Russia” Board Director Dmitry Lebedev.
The Agreement aims to establish long-term cooperation between the two sides on Russian and international financial markets.
Under the Agreement the two sides intend to participate in implementing investment projects meeting the requirements of the Bank for Development’s Memorandum on Financial Policy, among other things, by raising syndicated credits, using other forms of financing including bond and bill issues and granting guarantees against projects aimed at supporting Russian exporters of industrial products and services as well as conducting expert’s examination and offering investment consulting services.
The implementation of the Agreement will help promote mutually beneficial partnership and financial and economic cooperation between the two institutions.
OJSC Joint Stock Bank “Russia” was established in 1990, has an international credit rating assigned by the Fitch Ratings Agency at B-. The Bank participates in the deposit insurance system. The Bank gives high priority to a long-term financing of investment projects and to lending corporate customers.
Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 608-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru
Vnesheconombank Deputy Chairman Anatoly Ballo Participates in a Meeting of the Council under the Russian President’s Plenipotentiary Representative in the Far East Federal District
A meeting of the Council under the Russian President’s Plenipotentiary Representative in the Far East district was held in Magadan. In attendance were constituent entities’ heads and representatives of executive authorities.
Participants in the meeting discussed issues of socio-economic development of the Far East, in particular, prospects for promoting investment activity on the territory of the district and providing support for high-priority industries of its regions.
Representatives of State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’including Vnesheconombank Deputy Chairman A.B Ballo, Vnesheconombank’s Regions Development Department Director I.N. Valitov and Head of Directorate for Cooperation with Government Authorities S.I. Astafurov took part in the meeting of the Council at the invitation of the Russian President’s Plenipotentiary Representative in the Far East district O.A Safonov.
In the course of the meeting Vnesheconombank Deputy Chairman A.B. Ballo spoke on the theme of “Vnesheconombank’s Regional Investment Policy.” A.B. Ballo informed the participants of the Council’s meeting about the completion of establishing a state development institution in Russia. Mentioning the importance of investment activity for boosting the economic potential of the district, he said that it was necessary to open the Bank for Development’s representative office on the territory of the district. He also highlighted problematic issues of working out and implementing investment projects as well as possible ways of addressing them.
At the same time, Vnesheconombank Deputy Chairman A.Ballo said that the Bank was ready to do its best to provide overall assistance and offer consulting services in working out and preparing investment projects of great importance for the district’s regions and in giving training to personnel to establish cooperation with the Bank for Development.
Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 608-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru