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Interview - A Tenth of Russia's Foreign Trade Turnover is Serviced through Vnesheconombank - VEB Chairman

25 may 2005 года
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Source: RIA "Novosti". Russian Economic News

Date of Issue: 23.05.2005 22:16

Belgrade. May 23 - RIA "Novosti", Nikolay Paskhin. Today, about 10% of Russia's foreign trade turnover is serviced thorough Vnesheconombank's system, Vnesheconombank Chairman Vladimir Dmitriev said on Monday in his interview with RIA "Novosti". He participated in the 14-th annual meeting of the European Bank for Reconstruction and Development Board in Belgrade.

As Mr. Dmitriev put it, Vnesheconombank performs the task of promoting Russian exporters, among other things, with the help of its subsidiary, Roseximbank, with Vnesheconombank's stake in it being 95%.

"Since last year the government system of promoting industrial exports started to operate, - said Dmitriev. Within the framework of this system Roseximbak is the only and main authorized bank. The first large-scale contract to supply two IL-96 aircraft to Cuba is going ahead. The contract is worth more than $100 million". The Russian Government granted a guarantee of more than $90 million against the contract.

In Mr. Dmitriev's opinion, the Bank's cooperation with aircraft manufacturers is sure to yield tangible results in the filed of promoting Russian exports. For example, Vnesheconombank jointly with a number of other Russian state-owned banks signed an agreement with the "Sukhoy" Aviaholding. The agreement provides for extending credits to manufacture a medium-distance passenger aircraft, said Vnesheconombank Chairman. By experts' estimates, the aircraft will be in demand not only on the domestic market but on foreign markets too, stressed Dmitriev. He said that a number of French banks act as Vnesheconombank's partners in carrying out this project.
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