On the Results of Vnesheconombank’s Participation in the Petersburg International Economic Forum

In the course of the Petersburg International Economic Forum-2013, Vnesheconombank Chairman Vladimir Dmitriev participated in a plenary meeting “Global Sustainable Development Agenda”, in a meeting of the Russian Direct Investment Fund International Expert Council and in a session: “Turn to the East and the East Siberia Development Program”.

In the course of the Forum there was a ceremony to present the contest winners with the first “Development Award”. The Award to initiators of the best investment projects was presented by Head of the Presidential Administration Sergei Ivanov.

It’s highly symbolic that we honor laureates as part of this Form which united politicians, public figures, heads of leading companies and scientists in order to address key economic problems. Economic progress is possible due to new innovative approaches and onward movement. For Russia it means moving away from raw materials economic model, developing our vast territories and addressing crucial social demographic issues”, Sergei Ivanov said.

The laureates of the first Development Award are:

In the nomination “the Best Project in Industrial Sectors” – the project “Launching the Production of New Generation Freight Wagons”, CJSC the Tikhvin Wagon Works;

In the nomination “the Best Infrastructure Project – the project “Development of Industrial Parks Infrastructure in the Kaluga Region”: “Forming an Automobile and Auto-Component Manufacturing Cluster, OJSC the Kaluga Region Development Corporation”;

In the nomination “the Best Project of Small and Medium-Size Enterprises” – the project “Reconstruction of the Heating System the City Bakal, the Satkinsky District of the Chelyabinsk region, LLC Ural Energo Development”;

In the nomination “the Best Project on the Comprehensive Development of Territories’ – “Construction of a Satellite Town of Kemerovo “Lesnaya Polyana”, Association of Construction Organizations Promstroy”.

In the course of the Forum Vnesheconombank entered into 11 agreements:

Agreement on Cooperation in Implementing Export and Investment Projects in Foreign Countries with OJSC RZHD. The parties intend to cooperate in implementing export and investment projects in foreign countries aimed at manufacturing and introducing Russian high-technology industrial products, supporting the export of products, services and technologies;

Memorandum of Understanding with the Administration of the Primorsky Territory, OJSC the Far East and the Baikal Region Development Fund (Vnesheconombank Group) and Changi Airport International. The parties agreed to implement a project on the development of the Vladivostok International Airport and airport infrastructure;

Memorandum on Cooperation with OJSC NOVATEK and OJSC Sovcomflot on the Project as it pertains to the Construction of Vessels – LNG Tankers for the Project’s Operator OJSC YAMAL LNG. Under the Memorandum Vnesheconombank is to explore the possibility of funding the construction of LNG tankers.

Agreement on Cooperation with the Governments of the Kaliningrad, Kirov and Leningrad Regions designed to Promote Effective Cooperation in the Investment Activity with Constituent Entities of the Russian Federation. The parties intend to cooperate in raising funds to finance investment projects to be implemented among other things on PPP principles, work out schemes for supporting them and enhance the development of small and medium-sized enterprises.

Joint Action Plan of Vnesheconombank Group and the Government of the Leningrad region for supporting small and medium-sized enterprises for 2013-215. This Agreement’s implementation would help to set up a comprehensive system of supporting small and medium-sized enterprises on the territory of the Leningrad region on the basis of regional measures for providing state support and financial programs implemented by Vnesheconombank.

Credit Agreement with the European Investment Bank (EIB). EIB is to extend 150 million US dollars for a period of 10 years. Funds received from EIB are expected to be used to support small and medium-sized enterprises through direct investments in capital and extending mezzanine credits. Thus small-sized enterprises are scheduled to gain better access to long-term financing.

Agreement on Cooperation with the Association of Innovation Regions of Russia (AIRR) on promoting long-term cooperation in implementing investment projects and programs in innovations and high technologies on the territory of AIRR regions. The agreement’s implementation would help to create a network of technology centers with a range of resources including personnel, equipment and technologies required for transforming scientific ideas into products in demand by production facilities.

Credit Agreement with HSBC Bank plc. Under the agreement HSBC is to extend additional credit facilities worth up to 25.2 million euros (in ruble equivalent) to fund a project on the construction of a cement plant in the Kaluga region.

Credit Agreement Bank of America, N.A. (US), Sumitomo Mitsui Finance Dublin Limited (Ireland) and CJSC Sumitomo Mitsui Rus Bank (Russia). Vnesheconombank is to raise credit facilities from the banks in the amount of 230 million US dollars for a period of 5 years to fund a project on the construction of a CSKA football stadium in the city of Moscow.

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