Russian Companies Supported by VEB Group Exhibit Their Goods at China International Import Expo

2 ноября 2018 года
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Over 100 Russian companies will participate in the first China International Import Expo and in the business mission timed to coincide with the event. VEB Group represented by Russian Export Centre (REC) organizes the Russian exposition.

“Given the priority objective of increasing the amount of Russian non-commodity exports, we not only should capture new export markets but also try to scale up exports to traditionally attractive and thriving markets, such as China. We expect that China will retain its position as Russia’s main trade partner. Since 2014, Russian non-commodity non-energy exports to China has been posting a steady growth. The growth leaders include steel industry, agriculture, paper and pulp industry, power engineering and instrument engineering,” said REC Director General Andrey Slepnev.

Russia is involved in five industry zones: food and agricultural products, high-technology equipment, medical equipment and products, services sector and consumer goods. Russian agricultural producers expressed the strongest interest in CIIE and occupied 50% of the exhibit space.

“China International Import Expo is also a platform for promoting cooperation and developing common approaches to joint projects. Integration processes across Eurasia help to scale up markets, boost mutual trade links and enhance the competitive edge of national economies. In this context, China is a strategic partner for the whole VEB Group. Russian-Chinese cooperation implies not only export encouragement with the support of Russian Export Centre but also Chinese investment for Russian development projects as part of EEU and One Belt One Road initiatives. Our strategic partners in China are China Development Bank, Export-Import Bank of China, Harbin Bank and a number of other financial institutions,” said VEB Chairman Igor Shuvalov.

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InfraVEB Director General Dmitry Tvardovsky Participates in Made in Udmurtia Forum

2 ноября 2018 года
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On 1 and 2 November 2018 Izhevsk hosted the Made in Udmurtia Forum organised by the Government and the Ministry of Economic Affairs of the Udmurtian Republic. The Forum brought together over 1,000 business people and government officials to discuss the business climate in the region and how to improve it.

Dmitry Tvardovsky, Director General of InfraVEB, took part in the Forum as an expert in the roadshow for PPP and concession projects to be implemented in Udmurtia and as a speaker in the round-table discussion ‘Regional PPP Breakthrough: From Project Preparation to Launch Success’. He spoke about challenges faced by the regions while launching PPP projects and specified the role of Vnesheconombank and InfraVEB in tackling these issues.

Tvardovsky pointed out that, according to the National PPP Centre, the regions signed only 36 concession agreements worth over 10 billion roubles in 2005–2017. Currently, the demand for infrastructure investment substantially exceeds the supply of high-quality projects. Furthermore, the regions are facing the challenge of PPP project preparation. Most regions lack both the resources required for proper preparation and competencies to select a PPP project model regarded as attractive and well balanced by project participants. Moreover, the problems confronted by the regions also include a small number of financially sound building contractors and almost a complete lack of major operators ready to be involved in PPP projects.

Tvardovsky said that the role of Vnesheconombank and InfraVEB in preparing PPP projects is primarily to perform the expert examination of projects and select those eligible for participation. In addition, Vnesheconombank and InfraVEB are engaged in preparing concept projects, fine-tuning immature projects, encouraging equity investment in early-stage SPVs (including PFIs), providing syndicated finance etc.

Major PPP projects are mostly federal transport projects viewed by Vnesheconombank and InfraVEB as having the considerable potential for investment.

According to Tvardovsky, the market is likely to gain new impetus through the implementation of PPP projects across a range of the following areas: retirement homes, smart city projects and, in general, the IT sector.

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Short-Term Exchange-Traded Bonds Issued by Vnesheconombank

2 ноября 2018 года
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Vnesheconombank issued short-term bonds in an additional placement to companies and corporations on 31 October 2018.

The Bank raised 5 billion roubles from bonds with a maturity of 14 days and a coupon of 7.27% p.a.

The par value of one bond is 1,000 roubles. The bonds were sold at 100% of their par value. The coupon is payable at maturity.

The arrangers of the bond issue are Gazprombank and Svyaz-Bank.

The bonds are on the Moscow Exchange’s Quotation List Level 1. The depository is National Settlement Depository.

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Development Institutions’ Leadership Team Headed by Igor Shuvalov Evaluates High-Potential Projects in Yaroslavl Region

1 ноября 2018 года
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Representatives from VEB, SME Corporation, REC and DOM.RF made a field visit to the Yaroslavl Region. The principal goal of their meeting with the Yaroslavl Region Governor Dmitry Mironov and local entrepreneurs was to identify priority projects requiring concerted promotional efforts of the development institutions. VEB coordinates this work, which facilitates the search for efficient solutions in each specific case.

Along with discussing potential investment projects, the delegation visited R-Pharm’s innovative Pharmaceutical Complex for Production of Finished Dosage Forms in Yaroslavl, and an apartment house built using 3D construction printers of a Yaroslavl-based company, SPETSAVIA.

‘For all regions, the key growth drivers include development of state-of-the-art technology, quality changes in urban environment, and laying groundwork for comfortable living. It is a complex task, which requires involvement from the government represented by development institutions at various stages. Competencies of our colleagues at DOM.RF augmented with the tools offered by SME Corporation can boost the construction of such facilities and reduce red tape. And the Russian Export Centre can facilitate companies in entering new markets,’ said VEB Chairman Igor Shuvalov. ‘It is precisely this synergetic effect that we have in mind speaking of coordinating state development institutions’ efforts.’

On that front, VEB Group has already engaged in promoting the regional tourist infrastructure by financing the Golden Ring Resort Project. The project has been actively implemented since autumn 2016 benefiting from VEB and its companies’ support. The 30-hectare resort comprises 353 rooms of hotel facilities, 26 chalets, a spa and sports facilities. Azimut Hotels, a professional hotel operator, is the manager of the resort.

‘The Yaroslavl Region can already boast a number of major projects successfully delivered in partnership with VEB,’ said Dmitry Mironov, Governor of the Yaroslavl Region. ‘To illustrate, the Golden Ring tourist and recreation resort has already welcomed its first guests. Today, we have presented new innovative projects designed not only to promote the local industry but also present best practices in tourism, agribusiness and other sectors. Undoubtedly, today’s visit will open a new page in the relations between the Yaroslavl Region and VEB.

Summarizing the results of the meeting, VEB Chairman Igor Shuvalov and Governor Dmitry Mironov reaffirmed their commitment to further cooperation between VEB Group and the Yaroslavl Region in developing the local economy.

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Team of Development Institutions’ Heads Led by Igor Shuvalov Appreciates Prospects for Yaroslavl Region Projects

1 ноября 2018 года
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Representatives of Vnesheconombank, Russian Small and Medium Business Corporation, Russian Export Center and DOM.RF have visited the Yaroslavl Region. The meeting with the Governor of the Yaroslavl Region, Dmitry Mironov, and local entrepreneurs was aimed primarily at identifying projects that should be given priority by development institutions providing joint support for their implementation and development. Vnesheconombank coordinates this work, which makes it possible to find effective solutions on a case-by-case basis.

Apart from discussing potential investment projects, the delegation visited R-Pharm’s Yaroslavl-based innovative pharmaceutical facility producing finished dosage forms and a house built using construction 3D printers of a Yaroslavl-based company, SPECAVIA.

“Developing innovative production technology, causing qualitative changes to the urban environment and creating the conditions for comfortable living are among the key drivers of the development of any region. The task is complex and needs the involvement of the government through development institutions at different stages. The competencies of our colleagues from DOM.RF, along with the tools of RSMB Corporation, are able to intensify the construction of such facilities and minimise bureaucratic barriers. Russian Export Center can help the company to enter new markets,” Vnesheconombank’s Chairman Igor Shuvalov said. “This is the synergistic effect that we have in mind when we speak about the coordination of how governmental development institutions operate.”

Vnesheconombank Group has already contributed to the development of Yaroslavl Region’s tourism infrastructure by participating in the Golden Ring Resort project. Vnesheconombank and its entities have been active in carrying out the project since the autumn of 2016. The 30-hectare resort comprises 353 hotel rooms, 26 chalets, a spa and sports facilities. The resort is managed by a professional hotel operator, Azimut Hotels.

Dmitry Mironov, Governor of the Yaroslavl Region said: “There are already several successful significant projects completed in cooperation with Vnesheconombank in the Yaroslavl Region. For example, Golden Ring Resort, which has already begun to receive its first guests. Today we presented new innovative projects aimed not only at support for the regional industry but also at know-how in the tourism, agribusiness and other industries. I am confident that today’s visit will open a new page for the relationship between the Yaroslavl Region and Vnesheconombank.”

Following the meeting, Vnesheconombank’s Chairman Igor Shuvalov and Governor Dmitry Mironov confirmed their intention to continue cooperation between Vnesheconombank Group and the region in the economic development of the Yaroslavl Region.

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Vnesheconombank’s Supervisory Board Meets in Regular Session

30 октября 2018 года
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Opening remarks by Dmitry Medvedev:

We are having a regular meeting of Vnesheconombank’s Supervisory Board today, rather an important meeting.

To begin with, last week’s meeting of the Presidential Council for Strategic Development and Priority Projects dealt with involving state corporations in efforts to achieve the national development goals. The President spoke about this. The colleagues also discussed this topic. Today we will discuss Vnesheconombank’s role in tackling these issues.

This makes it necessary that all development institutions whose formation used Vnesheconombank’s resources or participation should work closely with one another. This applies to all entities. It is important that, in the current configuration, they should act as one, providing support for investment projects that are high on the agenda for the country’s development.

There are also proposals to improve the efficiency of the entire system of development institutions and the coordinating role of Vnesheconombank in this context. This concerns modern platform solutions that will ensure the achievement of results horizontally.

For its part, the Government will continue to provide Vnesheconombank with the necessary support. In this respect, this meeting is key to Vnesheconombank’s activities. The latest meeting of the Government approved amendments to the budget of this year. The point is that Vnesheconombank will additionally receive money to pay some expenses of servicing its foreign loans. In addition, within five years, Vnesheconombank will be able to participate in development projects worth 3 trillion roubles, and in partnership with commercial banks, even greater investments can be made in the national economy, maybe three or four times as much as the initial amount, and this will be done on a repayable financing basis.

To improve Vnesheconombank’s efficiency, it is necessary to reinforce its financial model. This concerns the long-term settlement of its external debt. It is intended that 600 billion roubles in subsidies will be used for this purpose before 2024. Furthermore, an approach was developed to providing 300 billion roubles for Vnesheconombank’s additional capitalisation through a new mechanism, so-called «approved capital». This is the part of the share capital that can be provided when investment resources are required. This model is not yet specified in our legislation, which is why the Ministry of Finance prepared legislative amendments.

I have just signed the decision on an agreement with Vnesheconombank to provide federal subsidies in the form of property contributions to pay some expenses associated with its obligations for foreign loans. Therefore, I would like to ask that this ordinance of the Government should begin to be implemented in the near future.

There is another proposal; at first glance, it is of formal but, anyway, rather important nature. This concerns the name of Vnesheconombank. The proposed name is State Corporation «National Development Institution VEB.RF». It is not simply a matter of renaming the organisation; this reflects the role of Vnesheconombank (in fact, Vnesheconombank is primarily a development institution rather than a bank) and the tasks assigned by the President and the Government to Vnesheconombank.

We will consider the entire package of initiatives at the next meeting of the Government in order to continue with this work at the State Duma.

As usual, specific investment projects are on the agenda. For instance, the construction of two Aframax large oil tankers at the Zvezda shipyard. They use NGV fuel and meet the strictest environmental requirements of international conventions. In fact, this establishes a new standard of safety and quality in the global shipbuilding industry. This is an example of a modern approach to shipbuilding.

I hope that we will be able to compete with leading shipbuilding countries in this area and take the lead in forming promising international transport corridors. Vnesheconombank is to invest about 12 billion roubles in the project.

A whole range of other decisions also needs to be considered. Let’s get started.

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Vnesheconombank Finances Export of Russian Farming Equipment to Mongolia

26 октября 2018 года
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Vnesheconombank and the Development Bank of Mongolia have entered into two credit facility agreements for a total of 8.4 million euros to finance an export project to supply Russian-made farming equipment to Mongolia, with the first disbursement of 5.2 million euros.

The credit facility agreements were signed on behalf of Vnesheconombank by its Deputy Chairman Daniil Algulyan and on behalf of the Development Bank of Mongolia by its First Deputy Chief Executive Officer Chuluunbat Enkhbat.

The export project involves Russia’s leading suppliers of farming equipment, such as Rostselmash, Klever, Voronezhselmash, and Veles. Mongolia is to receive as many as 240 units of new farming equipment, including combine harvesters, energy-efficient tractors, self-propelled mowers etc.

The transaction is part of ongoing intergovernmental cooperation in agriculture between the Russian Federation and Mongolia. A similar transaction was previously completed by Vnesheconombank in collaboration with the Development Bank of Mongolia in 2017.

The Development Bank of Mongolia was established in 2011 pursuant to a resolution of the Government of Mongolia. The sole shareholder is the Government of Mongolia. The Bank’s activities are governed by the Law on the Development Bank of Mongolia. The Bank focuses on financing for development projects of commercial and social value.

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Short-Term Exchange-Traded Bonds Issued by Vnesheconombank

26 октября 2018 года
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Vnesheconombank issued short-term bonds in an additional placement to companies and corporations on 24 and 25 October 2018.

The Bank raised 40 billion roubles, including 20 billion roubles from bonds with a maturity of 14 days and a coupon of 7.27% p.a. and 20 billion roubles from bonds with a maturity of 21 days and a coupon of 7.27% p.a.

The par value of one bond is 1,000 roubles. The bonds were sold at 100% of their par value. The coupon is payable at maturity.

The arrangers of the bond issue are Gazprombank and Svyaz-Bank.

The bonds are on the Moscow Exchange’s Quotation List Level 1. The depository is National Settlement Depository.

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Short-Term Exchange-Traded Bonds Issued by Vnesheconombank

26 октября 2018 года
#News
Назад

Vnesheconombank issued short-term bonds in an additional placement to companies and corporations on 24 and 25 October 2018.

The Bank raised 40 billion roubles, including 20 billion roubles from bonds with a maturity of 14 days and a coupon of 7.27% p.a. and 20 billion roubles from bonds with a maturity of 21 days and a coupon of 7.27% p.a.

The par value of one bond is 1,000 roubles. The bonds were sold at 100% of their par value. The coupon is payable at maturity.

The arrangers of the bond issue are Gazprombank and Svyaz-Bank.

The bonds are on the Moscow Exchange’s Quotation List Level 1. The depository is National Settlement Depository.

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Short-Term Exchange-Traded Bonds Issued by Vnesheconombank

19 октября 2018 года
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Vnesheconombank issued short-term bonds in an additional placement to companies and corporations on 19 October 2018.

The Bank raised 0.2 billion roubles from bonds with a maturity of 28 days and a coupon of 7.32% p.a.

The par value of one bond is 1,000 roubles. The bonds were sold at 100% of their par value. The coupon is payable at maturity.

The arrangers of the bond issue are Gazprombank and Svyaz-Bank.

The bonds are on the Moscow Exchange’s Quotation List Level 1. The depository is National Settlement Depository.

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$200m Memorandum of Cooperation Signed by Vnesheconombank and NBU

19 октября 2018 года
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Vnesheconombank and the National Bank of the Republic of Uzbekistan for Foreign Economic Activity (NBU) have entered into a memorandum of cooperation for a total of 200 million US dollars. The document was signed on behalf of Vnesheconombank by its Chairman Igor Shuvalov and on behalf of NBU by its Chairman of the Board Alisher Mirsoatov. The signing ceremony was timed to coincide with an official visit of Russian President Vladimir Putin to the Republic of Uzbekistan.

The parties agreed on mutual cooperation and strategic partnership in financing the supply of Russian high-technology products, work and services for up to 200 million US dollars to carry out projects of energy efficiency, energy conservation and urban infrastructure in Uzbekistan.

«We have always had kind, partnership relations. We are interested in promoting these relations. As instructed by the President, the Russian Government is active in working on the bipartite agenda, Russian banks have instructions to support projects in Uzbekistan, Vnesheconombank is ready to get involved in such projects. I hope that we will complete projects of mutual interest, specifically Tashkent’s urban economy and public transport modernisation," Igor Shuvalov said.

The parties expressed confidence that the memorandum will boost economic, scientific, technical and trade cooperation between the Russian Federation and the Republic of Uzbekistan. Additional sources of financing are considered by Vnesheconombank to be development banks that are members of the Interbank Association of the Shanghai Cooperation Organisation, along with national and international development institutions of CIS and EAEU member countries.

The National Bank of the Republic of Uzbekistan for Foreign Economic Activity was established pursuant to a decree of Uzbek President Islam Karimov in September 1991. As an investment bank, NBU is the country’s largest institution with a developed infrastructure contributing to the development of the financial and industrial sectors and actively supporting Uzbekistan’s economic reforms. The Bank’s absolute priority is to provide support for small businesses and private entrepreneurs and finance their capex projects. The Bank is involved in financing the projects that ensure deep economic restructuring. These are projects in petroleum and metal production and processing, agricultural engineering, chemical production, mineral fertiliser production, textile production, agricultural processing, tourism, air and railway transport, telecommunications and small business and private entrepreneurship development that build a new image of the Uzbek economy.

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