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Results of VEB’s participation in the St. Petersburg International Economic Forum-2016

17 june 2016 года
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In the course of the St. Petersburg International Economic Forum- 2016, Vnesheconombank Chairman Sergei Gorkov participated in a business lunch given by Sberbank of Russia and spoke at a session organized by Vnesheconombank “New Economy of Growth: A Role of Development Institutions. Fulfilling Ambitions”, participated in a plenary sitting “On the Threshold of a New Economic Reality”.


Speaking at the session S.Gorkov stated that development banks and not only in Russia de-factor proved to be unprepared for market changes. “Fluctuation of markets occurs much more often than a life of credits granted by development banks. A tenure of a credit granted by a development bank is 10 years and even more. But in the last 10 years Russia has seen two crises which changed the economic situation significantly. In the first place, emerging economies are in need of development banks”, VEB’s Chairman said.

As part of the Forum there was a ceremony to present the winners of the Development Award Competition instituted by VEB. The Award to the initiators of investment projects was presented by Chief of Staff of the Presidential Administration of the Russian Federation Sergei Ivanov and Vnesheconombank Chairman Sergei Gorkov.


In the course of the Forum Vnesheconombank signed the following agreements:

  • memorandum on cooperation with the world’s largest producer of synthetic sapphire - Monopcrystal company - in order to organize export supplies of the company’s products to foreign countries;
  • memorandum on further cooperation with JSC Sukhoi Civil Aircraft and Russia-Italian enterprise Superjet International S.p.A in order to implement the project on the supplies of Sukhoi Superjet 100 aircraft;
  • agreement on cooperation with AFK Sistema. The parties agreed to develop and enhance mutually beneficial cooperation to provide support for AFK Sistema’s investment projects designed to manufacture and export non-raw materials high-technology Russian products and develop innovative technologies;
  • memorandum of understanding on joint investment projects with Italian export agency SACE. The memorandum is aimed at enhancing Russian-Italian economic ties and provides for cooperation between the parties in funding joint projects with high added value.


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E-mail: press@veb.ru


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