Vnesheconombank has become the winner of the global awards run by the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) and the European Organization for Sustainable Development (EOSD). The Bank was honored for its Sustainability Roadmap in the category of Outstanding Business Sustainability Achievement.
The award ceremony took place during the Sustainable Finance Conference (July 2016, Karlsruhe, Germany) attended by 100 delegates from 35 different countries.
Vnesheconombank's Sustainability Roadmap was prepared in conformity with global sustainability standards and initiatives and using best practices of foreign financial institutions. The Roadmap provides for a set of measures aimed at improving the Bank’s sustainability competencies to the level of global financial institutions. Integration of the principles established by the Vnesheconombank's Roadmap into the Bank's operations will contribute to the successful delivery of its functions as a national development institution.
The award is the fourth ADFIAP award won by the Bank. The VEB Group's sustainability report 2011 received the ADFIAP award in the 'Best Sustainability Report' category; in 2014, the Bank was awarded a diploma for participation in construction and renovation of small-scale hydro power plants in the Republic of Karelia; in May 2016, Vnesheconombank became the winner in the category 'Infrastructure Development' for its participation in the construction of the Boguchany Hydroelectric Power Plant.
Vnesheconombank has been actively supporting development projects relying on the sustainability principles, established by the Bank to ensure its efficient operation.
The Association of Development Financial Institutions of Asia and Pacific (ADFIAP) was established in 1976. Today, it is one of the biggest global associations comprising 131 member-institutions from 45 countries. Vnesheconombank joined ADFIAP in January 2013 and now is a member of ADFIAP's Board. The Association seeks to coordinate the activities of development financing institutions to secure social and economic development of the region.
The ADFIAP Awards Program started in 1997 when ADFIAP hosted the Summit on Development Finance in Manila. From then on, the awards ceremony has been held annually. The awards recognize both individual and institutional contributions to the national development.
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