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Vnesheconombank participates in the BRICS and the SCO summits events

13 july 2015 года
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In 2015, the Russian Federation holds the presidency of the BRIСS Association and the Shanghai Cooperation Organization.

This year, Vnesheconombank is the presiding bank of the BRICS Interbank Cooperation Mechanism and it presides over the SCO Interbank Consortium. Vnesheconombank Chairman Vladimir Dmitriev is the Chairman of the SCO Interbank Consortium Council and the BRICS Cooperation Interbank Mechanism.

Vnesheconombank’s delegation participated in the following events during the BRICS and the SCO summits (July 8-10, 2015 the city of Ufa):

- A Session of the BRICS Business Council (July 8, 2015). Speaking at the session Vnesheconombank’s Chairman said, “I’m happy to inform you that Vnesheconombank’s employee is to be vice president in the bank from the Russian Federation and a whole number of the New Development Bank’s employees are to be recruited from Vnesheconombank”.

- An Annual Meeting of Heads of Banks - Participants in the BRICS Interbank Cooperation Mechanism (July 8, 2015) President of the New Development Bank KundapurVaman Kamath was present at the meeting as a special guest.

This year, the Cooperation Mechanism marks its fifth anniversary. According to Vnesheconombank Chairman Vladimir Dmitriev, “banks of the BRICS Interbank Cooperation Mechanism and the New Development Bank have similar objectives and that is why our cooperation will have a positive influence on the development of the BRICS countries’ economies”.

- An important event of the summits business agenda was the BRICS and the SCO Financial Forum organized by VEB (July 8, 2015) The Forum was included in the list of main events under Russia’s BRICS presidency. The list was approved by Russian President Vladimir Putin.


In the attendance of the Forum were representatives of major financing institutions and investment companies of the BRICS and the SCO countries, the Group of Twenty (G20), representatives of business, the academic community, federal and regional authorities.They discussed potential ways of cooperation with multilateral development institutions, considered a special role of national development banks’ in supporting sustainable growth and social stability.

In the interval of the Forum Vladimir Dmitriev and KudapurVaman Kamath answered journalists’ questions.


National development banks will select projects for the New Development Bank when it starts to operate. VEB Chairman Vladimir Dmitriev told journalists aboutit. “Both the New Development Bank and national development banks are to select projects, national development banks are to submit projects to consideration by the New Development Bank”, said Dmitriev stressing that VEB is delegating its employees to managerial positions at the New Development Bank.

He said that the BRICS bank was to start operating by the end of this year and that they might start considering projects in spring of 2016. “We proceed from the premise that our cooperation mechanism will start to operate at full strength, the more so, tomorrowwe are to sign a memorandum of understanding on cooperation between national development banks with the New Development Bank. I think that I’ll get back to this issue next spring.

UFA, July 8. / TASS

- A meeting of the BRICS countries heads of state with members of the BRICS Business Council (July 9, 2015)

Vladimir Dmitriev participated in a meeting of the BRICS countries heads of state with members of the BRICS Business Council.

Heads of banks – participants in the BRICS entered into a Memorandum of Intent on Cooperation with the New Development Bank.


On behalf of Vnesheconombank the Memorandum was signed by Chairman Vladimir Dmitriev. The document states the intention of banks – participants in the BRICS Interbank Cooperation Mechanism to interact with the New Development Bank and sets forth possible parameters and lines of such cooperation.

“The Memorandum of Intent on Cooperation with the New Development Bank signed by state development banks of Brazil, Russia, India, China and SRA provides for the New Development Bank to start funding specific projects as early as by spring of 2016”, said Vnesheconombank Chairman Vladimir Dmitriev.

From an interview to TV Channel Russia 24

- The 11th meeting of the SCO Interbank Association Council (July 9, 2015)

Chairman of the Council Vladimir Dmitriev told about the Council’s performance in 2015. In the course of the Council’s meeting, a decision was signed to give an SCO IBA partner bank status to Habib Bank Limited (Pakistan). The heads of banks signed a Joint Statement on the occasion of SCO IBA’s tenth anniversary. The document sums up the results of SCO IBA banks’ activity for the past period as well as identifies priorities of further cooperation.


- A meeting of SCO Council of Heads of State with the participation SCO IBA banks (July 10, 2015)

As part of the summits in Ufa Vnesheconombank’s Chairman held meetings with President of China Development Bank Zhijie Zeng, President of BNDES Luciano Coutinho and President of the Silk Road Fund Wang Yunji.
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