China’s best practices will help VEB avoid mistakes in its new strategy – first deputy chairman of state corporation

Prime Novosti

BEIJING, May 27 /PRIME/. In the course of their visit to China, Vnesheconombank’s representatives held a workshop at the China Development Bank. Our Chinese partners’ best practices in terms of risk management, human resources policy and lending could be used upon preparing a development strategy of state corporation, said VEB’s First Deputy Chairman Nikolai Tsekhomsky to RIA Novosti.

VEB’s delegation is in Beijing as part the Group of Twenty countries financial development institutions’ heads – D20 meeting.

“Our main goal here is to participate in the D20 meeting. But in addition to it, we decided to combine the useful with the useful and brought here a team that spent yesterday a whole day at the China Development Bank participating in a workshop. And it’s very interesting for us to listen to about our colleagues’ successes and failures and the ways of overcoming these failures maybe in the late 90s, reasons for these failures and the way they adjusted their strategy.

He reminded that now VEB was forming a new strategy that will be presented in late June.

“So, we are interested in any introductory information from the respected banks and especially from the China Development Bank which is one of the most successful development banks”, said the Deputy Chairman of the state corporation.

“We listened to very attentively about their risk management, their human resources policy and their lending policy. To my mind, we held a very useful workshop yesterday, our team members took a lot of notes. I think we can borrow something from them but in any case it was very useful”, added Mr. Tsekhomsky.

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