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Highest Award for Procurement, ‘Guaranteed Transparency’, Won by Vnesheconombank

7 december 2017 года
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The 11th annual awards ceremony for the 2017 National Procurement Transparency Rating took place on 6 December. The awards for procurement transparency went to the winning public, regional and municipal contracting authorities and corporate contracting entities. With the second highest score among Russia’s 70 largest corporate buyers this year, Vnesheconombank received the highest award, “Guaranteed Transparency”.

The ceremony was hosted by the Chamber of Commerce and Industry of the Russian Federation. Yevgeny Seleznyov, Senior Managing Director of Vnesheconombank’s Procurement Department, was given the award on behalf of the Bank.

“Our procurement system is in line with the development trend of Vnesheconombank Group as a whole,” Yevgeny Knyazev, Vice-President and Procurement Department Head, said. “Digitalisation helps us to reduce barriers to suppliers and contractors: we offer online training resources, introduce blockchain technology into the procurement process. The result of our efforts is recognised by not only industry experts but also small businesses, which is borne out by the fact that one in Vnesheconombank’s five purchases comes from a small business.”

The National Procurement Transparency Rating project was started 11 years ago to establish an independent non-governmental research centre specialising in economic and legal analysis of the Russian market for public, municipal, corporate and private procurement. The rating is based on the constant monitoring of contracting authorities’ procurement efficiency and transparency at federal, regional and municipal level. In 2017 the project’s research centre analysed 3,021,988 purchases made by public contracting authorities, totalling 6.45 trillion roubles, and 2,004,670 purchases made by corporate contracting entities regulated by Federal Law No. 223, totalling 39.21 trillion roubles.

Vnesheconombank also received the “Guaranteed Transparency” award for procurement in 2016. Last year, Vnesheconombank was ranked fifth overall in the category of government-linked companies.

State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” is a national development bank and one of Russia’s largest financial institutions. Established in 1924, the Bank has operated under the special Federal Law “On Bank for Development” since 2007. The highest governing body is the Supervisory Board chaired by Russian Prime Minister Dmitry Medvedev.

In accordance with the Development Strategy until 2021, Vnesheconombank will focus its activities on financing for high-technology industrial projects, infrastructure development, support for non-resource exports, support for innovations and projects of the National Technology Initiative. Vnesheconombank will reach a new level of quality: proactively searching for projects on the government’s list of priorities, working together with customers to thoroughly analyse business projects, attracting private coinvestors, using state-of-the-art technology to track the progress of projects.
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