Results of VEB delegation’s participation in the Petersburg International Economic Forum-2015 (PIEF-2015)

In the course of the Petersburg International Economic Forum-2015 Vnesheconombank Chairman Vladimir Dmitriev took part in a plenary session “Time to act: by joint efforts toward stability and growth”. He also spoke at a session organized by Vnesheconombank “Russia’s regions: creating and enhancing points of growth”.

Vnesheconombank Chairman also participated in a meeting of Russian President Vladimir Putin with members of the PIEF International Expert Council and representatives of the world’s investment community, he took part in the Second Session of the Russian-Chinese Intergovernmental Commission on Cooperation.

The Development Award ceremony was held as part of the 19th Petersburg International Economic Forum. The Award was instituted by Vnesheconombank. The awards were presented by Sergei Ivanov, Chief of Staff of the Presidential Executive Office of the Russian Federation, and Vladimir Dmitriev, Chairman of Vnesheconombank.

Vnesheconombank and the Greek Ministry of Reconstruction of Production, Environment & Energy made a joint statement on the Development of Infrastructure in Greece. In order to implement the project Russia and Greece are to establish a joint venture on a parity basis. VEB Capital is to represent the Russian side and Greece is to be represented by an energy investment company.

First Vnesheconombank Deputy Chairman, Member of the Board Petr Fradkov participated in a round-table discussion of the Agency for Strategic Initiatives on “Administrative Barriers in BRICS – what hampers the development of trade and business?”

First Vnesheconombank Deputy Chairman, Member of the BoardAndrei Sapelin took part in a panel session “Russia’s industrial policy: How to set priorities?”

Vnesheconombank Deputy Chairman (chief economist), Member of the Board Andrei Klepach participated in a panel session “Small and Medium-Sized Enterprises as a Driver of Russia’s Economic Growth”and he also participated in a session of the Valdai Club “Economic interdependence versuspolitical isolation”.

Vnesheconombank Deputy Chairman, Member of the Board Sergei Vasiliev spoke at panel discussions “the SCO Business Forum” and “the BRICS Business Forum. He and FCPF Director General A. Bazhenov held talks with leaders of the Komi Republic and the Yamal-Nenets Autonomous district.

Vnesheconombank Deputy Chairman Irina Makieva spoke at a plenary meeting of the First Small and Medium-Sized Enterprises Forum and she also participated in a panel session “Small and Medium-Sized Enterprises as a Driver of Russia’s Economic Growth”.

In the course of the Forum, institutions comprising Vnesheconombank Group entered into the following agreements:

• Vnesheconombank and the Development Bank of Mongolia in the presence of Mongolia’sPrime Minister ChimedinSiakhanbileg signed a credit agreement aimed at funding a project on upgrading CHPP-4 in Ulan Bator, Mongolia.The Urals Turbine Plant acted as the general contractor under the export project. The Plant supplied the first steam turbine and accessory equipment; it also performed all ancillary work on a turnkey basis. This project became the winner of the Development Award in the nomination “The Best Export Project”;
  
• VEB and the Export Insurance Agency of Russia (EXIAR, Vnesheconombank Group) signed a buyer’s credit insurance agreement under which EXIAR is to cover default risks of the Development Bank of Mongolia under a credit extended by Vnesheconombank;
  
• Vnesheconombank and the Federal Agency for Research Organizations (FARO) entered into an agreement on cooperation. The agreement provides for developing all-round and efficient cooperation to enhance public private partnership that is instrumental in implementing investment projects;
  
• VEB, the Russian Direct Investment Fund (RDIF), the Strategic Initiatives Agency for Promoting New Projects and the National Export Center entered into an agreement on cooperation in supporting non-raw materials export-oriented companies and projects through implementing a mechanism for investment lift. The program is designed to develop and carry out a package of measures for providing financial and non-financial support to non-raw materials export-oriented companies. The Program aims to increase a proportion of exports in the proceeds of Russia’s promising companies and reduce the Russian market’s dependence on imports of foreign products and services;
• Vnesheconombank and the Government of the Saratov region entered into an Agreement on Cooperation. Vnesheconombank and the region’s Government intend to cooperate in forming investment projects including those implemented on public private partnership terms as well as work out different options to fund them, cooperate in preparing project evaluations ad participate in organizing financial support for small and medium-sized enterprises;
• VEB and CO.MO.I. Group SA signed a letter of intent. The parties agreed to continue their joint work on organizing trade funding of Vnesheconombank’s customers as part of contracts with Italian suppliers;
• JSC EXIAR (Vnesheconombank Group) signed an agreement on cooperation with the Government of the Ulyanovsk region and the Government of the Astrakhan region;
• The Federal Center for Project Finance (FCPF, VEB Group), State Company Avtodor, the Republic of Tatarstan, the Republic Bashkortostan and the Orenburg region signed an agreement on cooperation and information sharing as part of forming a transport route “Europe – Western China” on the territory of the Russian Federation;
• FCPF (VEB Group) and the Government of the Nizhny Novgorod region signed document on establishing a special engineering company the Nizhny Novgorod Development Corporation for preparing investment projects. A project to build a multifunctional tourism and entertainment complex;
• FCPF (VEB Group) and the Administration of Civil Airports agreed to develop long-term and efficient cooperation in order to form and implement infrastructure projects designed to develop airports in Russia;
• FCPF (VEB Group) and the Collegium of the Kemerovo region Administration entered into an agreement under which they plan to make preparations for an investment project on the comprehensive development of the Sheregesh alpine mountain resort and building a sports and tourism cluster;
• FCPF (VEB Group), the Administration of the Kostroma region the administration of Volgorechensk, managing company Volg-Industrial, company Volga and Agro-industrial company Kostromskaya entered into an agreement on basic conditions for implementing an investment project on creating an advanced industrial park Volgorechensky;
• SME Bank and the Government of the Murmansk region signed an agreement on strategic partnership in supporting and enhancing small and medium-sized enterprises. The parties also agreed to render assistance in developing, selecting and implementing investment and innovation projects through creating a system of guarantees for a payback of invested funds and conditions for engaging investors in this secctor;
• SME Bank and Bank Saint Petersburg entered into an agreement on cooperation in supporting SMEs. Under the agreement, Bank Saint Petersburg is to be provided with 300 million rubles to fund SMEs.

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