CJSC “Ernst and Young Vneshaudit” Approved as the Auditor of Vnesheconombank’s Annual Financial Statements for the Year 2007

27 december 2007 года
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The Supervisory Board of State Corporation State Corporation ‘Bank for Development and Foreign Economic Affairs’ (Vnesheconombank) approved CJSC Ernst and Young Vneshaudit as the auditor of Vnsheconombank’s annual financial statements for the year 2007.

The minutes of the voting meeting of Supervisory Board members N7, dated December 18, 2007 was signed by Supervisory Board Chairman – Russian Prime Minister Victor Zubkov.

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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Coupon Payments on OGVZs

21 december 2007 года
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Today on December 21, Vnesheconombank made a payment in the amount of 159 375 000.00 US dollars to pay interest on 1998 OGVZs. The payment was made in a single currency. The funds were transferred to Citibank N.A., London Office.

Eurobonds were issued by the Finance Ministry of the Russian Federation in the amount of 2.5 billion U.S. dollars for a period of 30 years, with coupon payments to be made twice a year.

 

Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 608-46-93, Fax: +7 (495) 975-21-34

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Vnesheconombank Chairman V.A. Dmitriev Made a Presentation of Bank for Development at a Session of the Council under the Russian President’s Plenipotentiary Representative in the Central Federal District.

21 december 2007 года
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INTERFAX-AFI
Moscow December 21.

VEB intends to carry out projects worth 2 trillion rubles in 2008

Moscow. December 21. INTERFAX-AFI  - State Corporation ‘Bank for Development and Foreign Economic Affairs’ (Vnesheconombank, VEB) intends to carry out projects worth 2 trillion rubles in 2008, said Vnesheconombank Chairman Vladimir Dmitriev speaking at a session of the Council under the Russian President’s Plenipotentiary Representative in the Central Federal District on Friday. “Using the Bank’s resource base and raised capital we can fulfill 30% of the task of raising investments in the country’s economy,” he said.

On his part, the Russian President’s Plenipotentiary Representative in the Central Federal District Georgi Poltavchenko offered regions incorporated in the Central Federal District to form together with Vnesheconombank a package of regional and interregional investment projects, above all, in the field of infrastructure, with these projects being carried out on the basis of co-financing and public private partnership.

 

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Vnesheconombank and OJSC Hydro OGK Sign Agreement

20 december 2007 года
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Today on December 20, State Corporation ‘Bank for Development and Foreign Economic Affairs )Vnesheconombank)’ and the Federal Hydrogeneration Company (OJSC Hydro OGK) entered into a Memorandum on Cooperation in Carrying out Investment Projects.

The Memorandum was signed by Vnesheconombank Chairman Vladimir Dmitriev and OJSC Hydro OGK Management Board Chairman Vyacheslav Sinygin.

Under the Memorandum the two sides are determined to jointly participate in carrying investment projects aimed at ensuring the development of sustainable electric power production on the basis of renewable sources of energy.

Within their cooperation the two sides are considering the following projects:

  • projects to build territorial energy-industrial clusters (a series of hydroelectric stations on the river Vitim, Southern Yakut hydro-energy complex, the Bureisk hydroelectric station, and the Nizhne-Bureisk hydroelectric station, the Nizne-Zeisk hydroelectric station, the Ust-Srendnekansk hydroelectric station, the Boguchan hydroelectric station, the Motyginsk hydroelectric station;
  • projects to develop hydro accumulation power stations including the Zagorsk hydro accumulation power station-2, the Leningrad hydro accumulation power station;
  • general system projects: the construction of the Evenk hydroelectric station, the Nizhne-Kureisk hydroelectric station.

Under the Memorandum Vnesheconombank intends to make financial examination of projects and participate in working out schemes for financing projects as well as act as an  arranger and /or co-arranger of their financing in accordance with the Bank’s business principles established by the Memorandum of the state corporation’s financial activity.

Regarding Vnesheconombank as its strategical partner OJSC Hydro OGK is determined to carry out projects (including working out project estimate documentation) in accordance with the Regulations of OJSC Hydro OGK’s investment activity giving high priority to meeting environmental standards.

In their desire to cooperate the two sides took into cons ideation that the said projects were of strategic importance for developing energy infrastructure of the Russian Federation and Vnesheconombank’s participations in them is in line with the state corporation’s financial policy in accordance with which the implementation of projects aimed at developing energy infrastructure is one of Vnesheconombank’s main lines of business.

 

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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Credit Extended to Belvnesheconombank

14 december 2007 года
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Today on December14, in the course of Russian President Vladimir Putin’s visit to Belarus, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and OJSC Belvnesheconombank signed an Agreement on Extending Subordinated Credit to the Belarussian Bank in the amount of 30 million dollars.

The Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and Belvnesheconombank Management Board Chairman Georgi Egorov.

The credit is designed to increase Belvnesheconombank’s lending resources to finance Belarussian companies purchasing goods and services in the Russian Federation.

Vnesheconombank owns OJSC Belvnesheconombank’s controlling stake in the amount of 53.56%.

 

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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