Vnesheconombank and Volgograd Administration Sign Agreement

1 february 2008 года
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Today, on February 1, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Volgograd Region Administration entered into an Agreement on Cooperation.

The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and Volgograd Region Administration Head Nikolai Maksyta. The signing ceremony was held in the presence of Plenipotentiary Presidential Representative in the Southern Federal District Grigory Rapota.

This Agreement aims to establish strategic partnership and promote long-term, effective and mutually beneficial cooperation between the two sides in the investment business.

Under the Agreement the two sides are determined to cooperate in raising funds to finance projects aimed at fulfilling high-priority tasks of developing the region and enhancing its economic and industrial potential. Specifically, highly promising projects include those in manufacturing of building materials, transport infrastructure and agroindustrial sector. A list of high-priority projects is to be made annually on the basis of the region’s socio-economic priorities.

The implementation of the Agreement would help boost the region’s economic potential growth rate, its investment appeal and make the country’s economy more competitive as a whole.

 

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

 

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Vnesheconombank Chairman V. Dmitriev took part in an exit session of the Council for the Development of the Timber Industrial Complex under the Russian Government in Syktyvkar.

29 january 2008 года
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Vnesheconombank, Komi Government and Russia’s Union of Timber Industrialists and Timber Exporters Enter into Agreement

29 january 2008 года
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Today on January 29, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, the Government of the Komi Republic and Russia’s Union of Timber Industrialists and Timber Exporters entered into a Memorandum on Cooperation in Carrying out the Udorsk Pulp-and-Paper Mill Construction Project in the Komi Republic.

The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev, Rusian Union of Timber Industrialists and Timber Exporters President Miron Tatsyn and Komi Republic Head Vladimir Torlopov.

The three sides are determined to cooperate to carry out the Udorsk Pulp-and-Paper Mill Construction Project in the Komi Republic. The Project’s expected investment value is 40 231 million rubles. The Mill’s construction period is 4 years from the start of project design work. It is expected to reach its full design capacity in 2014. The Project provides for building a production facility to manufacture competitive deeply processed wood products such as coated and metallized paper, label paper and paperboard. The Mill is to be designed in accordance with the most modern environmental safety requirements.

Under the Agreement Vnesheconmbank is to consider the possibility of conducting comprehensive expert examination of the project and participating in working out a scheme for financing it.

Vnesheconombank’s participation in implementing this Project is in line with the principles, main lines, and industrial priorities of Vnesheconombank’s investment activity stipulated in the Memorandum on Vnesheconombank’s Financial Policy.

The implementation of the Project will drastically reduce the export of unprocessed wood from the region and will help:

  • address the region’s social problems by way of building social infrastructure facilities and creating additional jobs;
  • raise people’s incomes and living standards in the region;
  • reduce the import of pulp-and-paper products;
  • expand businesses involved in building the pulp-and-paper mill from other industries.

Thus the construction of the Udorsk Pulp-and-Paper Mill will not only contribute to the development of the Komi Republic’s economy but also will result in implementing the measures adopted by the Russian Government in the field of timber processing aimed at increasing the share of high value-added products (deeply processed wood) and boosting the timber processing industry’s investment appeal.

 

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

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Vnesheconombank and BNP Paribas Entered into Agreement

28 january 2008 года
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State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and French Bank BNP Paribas entered into an Agreement on Cooperation in implementing Kyoto Protocol provisions aimed at developing conservation policy and preventing climate change.

The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and BNP Paribas Director Simon Dent.

The Agreement provides for promoting cooperation between Vnesheconomban and BNP Paribas upon selecting, examining and preparing projects aimed at creating favourable conditions for developing, implementing and spreading ecologically safe technologies.

 

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

 

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Payments on 1998 Eurobonds

23 january 2008 года
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In accordance with the terms of issuing Eurobonds and on the Russian Finance Ministry’s instructions  Vnesheconombank made a payment in a total amount of 190 651 890,00 US dollars to pay interest on 1998 Eurobonds.

The payment was made in a single currency. The funds were transferred to Citibank N. A., London Office.

1998 Eurobonds were issued for a total amount of 3 466 398 000,00 for a period of 20 years, with coupons being paid with two half-year contributions.

 

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

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