Vnesheconombank Chairman V.A. Dmitriev Interview to TV Channel Russia 24

TV Channel Russia24
INTERVIEW
10.07.2015, 10:55

HOST: In Ufathey are listening to the summit’s participants andcommentaries on the sidelineswhichare also important. Nailya Asker-Zadeis on air with us. Good afternoon Nailya. It’s almost one o’clock p.m.in Ufa. What talks have already taken place and what’s left on the agenda?

CORR.: Good afternoon Ekaterina. Now, we’ll discuss today’s agenda with Vnesheconombank Chairman Vladimir Dmitriev. Good afternoon Vladimir Alexandrovich.

Vladimir DMITRIEV, Vnesheconombank Chairman: God afternoon.

CORR: This year you are the Chairman of the SCO Interbank Consortium and you are alsoa member of the BRICS Business Council. What are the main priorities of the SCO and the BRICS counties’ financial interaction?

Vladimir DMITRIEV: As part of the SCO Interbank Consortium and the BRICS Interbank Cooperation Mechanism, being the chair of these institutions Vnesheconombank sets itself a main task of boosting efficiency of development banks’ interaction and if we mean the BRICS, interaction with the BRICS New Development Bank in order to be able to get down to implementing specific projects to be funded by the New Development Bank as soon as possible.

CORR: Yesterday, Vnesheconombank and the New Development Bank signed a Memorandum of Intent. What opportunities does the Memorandum opens up for you?

Vladimir DMITRIEV: Yesterday and the day before yesterday when we worked with our colleagues from the BRICS development banks andthe new management of the New Development Bank we set ourselves a task of getting down to implementing specific investment projects as soon as possible. An in this respect, the Memorandum signed by all the BRICS development banks is designed to launch a mechanism for funding specific projects by the New Development Bank by spring next year. This is our main task in terms of interacting with the New Development Bank.

CORR: Do you think that it is a good thing that the Asian Bank of Infrastructure Investments, the Silk Road Development Fund and the New Development Bank have common geography and specializationor maybe vice versa and they will compete against one another?

Vladimir DMITRIEV: We believe that initiatives on creating a very powerful infrastructure system between Asia and Europe are complementary and will help to enhance economies of our countries. And in this sense, we agreed to set up a special structure within the SCO Interbank Consortium that would interact closely with institutions being created in the Eurasian area. They include the Silk Road Fund, the Asian Bank of Infrastructure Investments as well as the New Development Fund. This synergy will be highly instrumental in upgrading our countries’ economies.

CORR: How will Russia benefit from participating in these projects?

Vladimir DMITRIEV:Russia is sure to benefit from participating in these projects and if we mean the Silk Road, it’s not just a road in two directions, it opens up a way for integrating neighboring regions into the Eurasian area. And private business, we are naturally cooperating with,shows considerable interest in building large-scale facilities together with us and development banks and here I mean logistics centers, agricultural products processing facilities, hotels and innovation centers. This project will be instrumental in developing major production facilities, creating new jobs and expanding our countries’ economies.

CORR: Russiaand China signed a statement on cooperation to build a unified energy system and the Silk Road Economic Belt. How does VEB benefit from implementing these projects?

Vladimir DMITRIEV: As a bank for development, Vnesheconombank fits fully into agreements reached by the leaders of our states because one of Vnesheconombank’s main missions as a bank for development is to overcome economic growth infrastructure restrictions. We believe that Vnesheconombank itself and its subsidiaries such as the Federal Project Finance Center, the Russian Direct Investment Fund, VEB-Leasing and VEB-Engineering could be fully engaged in achieving the goals our countries’ leaders set before themselves. This s a mandate for us to work more efficiently to achieve goals set before our institutions. In this respect, holding the presidency of the SCO Interbank Consortium and the BRICS Interbank Cooperation Mechanism, Vnesheconombankis fully committed to engage our partner banksfrom among of the SCO and the BRICS development banks.

COOR: Vladimir Alexandrovich thank you very much.

Vladimir DMITRIEV: Thank you.