Dear friends and colleagues!
The 17th of May is a very special day for our corporation. Established in 1924, Vnesheconombank (VEB) is one of the oldest financial institutions in Russia. However, exactly ten years ago the Federal Law On the Bank for Development was signed, marking a new milestone in the history of Vnesheconombank. The Bank was assigned the ambitious and challenging task of facilitating the modernization of the national economy and its transition to an innovative path of development.
Russia’s economy has received Vnesheconombank’s unwavering support. Major investment projects designed to remove infrastructural constraints and promote the integrated development of Russian regions and high-technology industries have been launched with the participation of Vnesheconombank. This entails dozens of projects in infrastructure, nuclear industry, engineering, iron and steel, defense, space and telecommunications, IT, medical equipment, and pharmaceuticals. Our portfolio comprises loans to support brands that are household names for Russian citizens.
Overall, the Bank participated in 200 projects over the past ten years, with funds extended by Vnesheconombank for the delivery of projects totaling RUB 1.6 trillion.
Today, the Bank is going through the process of large-scale revamping and improvement, perhaps, the most significant in the past ten years. The changes affect every employee and every facet of our corporate life. The challenges VEB is facing today are much greater than a decade ago. The country needs the support, ideas, expertise, leadership and energy of each and every one of us. The revamped Vnesheconombank – VEB 2.0 – is a federal centre of competence designed to accumulate and promote state-of-the-art knowledge and technologies crucial for Russia. VEB 2.0 is to become a strategic national centre for project management and higher labour productivity. It will provide the business and government with innovative solutions in accomplishing priority tasks, aggregate private and public resources and create new opportunities for the participants in the partnership.
First and foremost, Vnesheconombank’s new task will call on each of us to further develop our own inner potential. The Bank and the country need our initiative, responsibility, creativity and commitment to national interests.
When working on Vnesheconombank’s corporate values we identified patriotism as integral to our goals. I know of no other institution in the world where patriotism is a corporate value.
I do believe that this is for a reason, as personal involvement in upholding a strong belief in this country and its people will help us accomplish the objectives we have set. It will also go a long way in securing the well-being and prosperity of Russia for the future!
Congratulations!
Sergey Gorkov
Chairman of Vnesheconombank
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