VEB.RF to Offer Modern Campus Model

10 april 2019 года

“To deliver globally competitive higher education and attract foreign students, we should not only upgrade our educational programmes but also develop the educational infrastructure. Universities need to provide students with a smart environment. We are speaking of creating educational environments and setting up campuses. It is important that students obtain all necessary living, educational and sports infrastructure facilities. Both municipalities and universities need suitable venues to host forums, conferences and exhibitions. Urban residents will also benefit from new infrastructure facilities. While many of the educational and additional campus services will be free for students, urban residents will use quality campus facilities on a fee basis. Allowing full recoupment of investment, such model will be more attractive for private investors,” VEB.RF’s Deputy Chairperson Svetlana Yachevskaya said at a panel discussion during the Moscow International Education Fair.

According to Svetlana Yachevskaya, university campuses can be built on the public-private partnership (PPP) principles. The PPP approach will help to increase the number and quality of new jobs created at modern campuses. An extensive range of services required by students and faculty members for their daily living and educational process and concentrated in one location will help to develop a new learning environment and attract foreign students.

The campuses will also contribute to a comfortable urban environment. Generally located in central urban areas, academic establishments are in need of substantial redevelopment.

“Furthermore, experts have long been viewing campuses as not just an isolated academic and research realm but rather as the innovative and economic drivers for urban development.   However, the campuses’ potential extends further. With thoughtful planning, not only can they provide an attractive learning environment, they can also become a catalyst for creating a comfortable urban environment,” said Svetlana Yachevskaya.  

A potential set of services may include forums for business and educational events; leasing premises to small innovative businesses (startups) complying with a university profile; educational and co-working spaces; university network resources including electronic learning resources and libraries; forums for mass cultural, recreational and sports events; household services and facilities.

Svetlana Yachevskaya believes that VEB.RF can independently finance such projects as any other bank or investor and also act as an expert in structuring such projects.

“It is impossible to satisfy the actual demand for new state-of-the-art campus facilities using the public budget funds only. Preliminary discussions of VEB.RF’s model with private partners have revealed the latter’s interest in such project subject to subsequent utilization of the facilities for the intended purpose under either PPP or concession agreements,” Svetlana Yachevskaya said.

VEB.RF’s experts estimate that the implementation of such project on a PPP basis without the federal budget funds would raise 78 billion roubles in private investment and create 28 to 60 thousand new jobs in modern campuses.  

The Export of Education federal programme, allocates 102.2 billion roubles of the federal budget funds for the engineering, construction and renovation of campuses to accommodate the minimum of 77.6 thousand of foreign and non-resident students and academic staff in 2019-2024.


VEB.RF’s Chairman Igor Shuvalov Chairs Board of Directors of Far East Development Fund

8 april 2019 года

VEB.RF’s Chairman Igor Shuvalov has chaired the Far East Development Fund’s Board of Directors. The reshaped Board of Directors now comprises representatives of VEB.RF as the sole shareholder of the Fund, the Ministry for the Development of the Russian Far East, and Rostelecom.

The Russian Far East is a priority macroregion for VEB.RF and the development institutions it coordinates. The State Corporation is involved in a number of projects: the development of one of the largest copper deposits in the Trans-Baikal Territory, the construction of a gas-processing plant in the Amur Region and the Zvezda Shipbuilding Facility in the Primorie Territory.   VEB.RF’s focus is on flagship projects designed to develop the urban economy and fundamentally transform municipalities in Russia’s Far East and make them comfortable for living.

Being the key development institution in the Far Eastern Federal District, the Fund sees its mission in backing priority investment projects with long-term concessional financing.

In the past five years, the Fund has invested over 35 billion roubles in priority projects in the Far Eastern Federal District with 56%, 23% and 13% of the investment accounting for new infrastructure, agriculture and manufacturing, respectively. Currently, fourteen projects totalling 215 billion roubles are under way. This year will see the completion of the first Russia-China rail bridge. Furthermore, a new passenger terminal in the Khabarovsk airport and first houses for employees of the Zvezda shipyard will be put into operation. The Fund finances the development of the Inaglinskiy coal field in South Yakutia, and the construction of the largest pig farming facility in the Primorie Territory, a plant for advanced processing of soya beans in the Amur Region, new ferries for the Vanino-Kholmsk crossing, and infrastructure facilities for the Sakhalin GRES power plant. An online service for the Far Eastern aquaculture investors has been put into place while a similar platform is now being developed for the forest industry. A small and medium-sized business credit programme continues with support already lent to over 700 projects totalling 15 billion roubles.

“The Fund will fit into VEB.RF’s agenda to increase investments and deliver new large-scale projects in Russia’s Far East in compliance with the Russian Government’s policy aimed at the outstripping development of the macroregion. The Fund will allocate the maximum financial and managerial resources to achieve the high-priority goals of developing Russia’s Far East established by the President,” the Fund’s CEO Aleksey Chekunkov said.


Vladimir Putin Meets with VEB.RF Chairman Igor Shuvalov

2 april 2019 года

Vladimir Putin has met with Igor Shuvalov, Chairman of State Development Corporation “VEB.RF”. They discussed the bank’s long-range projects and ways of their implementation.

Putin: Igor Ivanovich, I know that you wanted to start our conversation today by discussing the bank’s support for high-technology exports, one of our focus areas at present. But I suggest that after that we talk about a wider range of issues on the agenda of VEB, as our main development institution.

Shuvalov: As you instructed us, VEB joined work on all national projects. We are now involved in all the operations of the Russian Government and are taking an active part in almost all the activities of the Government.

Our special task is to look into any projects that generate new production, goods and services by considering the opportunities for export. Your 7 May decree set a really ambitious goal of increasing exports. We understand that this is our common task.

Before providing a loan or assistance in any other form, all development institutions whose agendas currently include the issue of development are studying whether such services can be in demand in foreign markets or they are created solely for Russian service recipients.

Jointly with Russian Export Center, a wholly owned subsidiary of VEB, the Government has already prepared road maps to carry out the tasks assigned by the May decree. With all doubts, and experts always like to voice doubts, as to whether such ambitious goals are achievable, the goals are attainable.

We must work. We know what to do. Under the direction of the Government, we will be doing this work and reporting to you on the results.

I must tell you that the VEB Supervisory Board has already approved several transactions on this agenda. These include Shchekinoazot, KuibyshevAzot, Udokan copper deposit and Amur Gas Processing Plant.

A major concern for us, a special project, is support for the Zvezda shipyard in Bolshoy Kamen in the Far East.

Putin: What are your activities there?

Shuvalov: We order vessels. Since VEB has leasing tools, we cooperate with Sovcomflot, Rosneft and NOVATEK and order vessels that they need and that they will use.

First, these vessels help us to build the most modern production facilities and ensure import substitution. On the other hand, it will be an export service, including using the tankers to transport our energy and related products. This is an export service.

Putin: I see. It is very good that the bank is involved in this work.

Shuvalov: Vladimir Vladimirovich, we will carry on with it.

Putin: What issues do you regard as the most important for discussion and for today’s activities of the bank?

Shuvalov: Vladimir Vladimirovich, as I have on several occasions reported to you and received your consent, VEB is now involved in the development of the urban economy.

This is a very important issue; and we view it as the most important in the context of you saying in the Address to the Federal Assembly, and then in the decree, that in this cycle of government, during these years, there must be a qualitative change in the life of ordinary people.

As over a hundred million people in this country are urban dwellers, we have made thorough preparations for the regional forum in Sochi, presenting our agenda and launching more than one project in municipalities.

We are now starting these projects in forty cities, bearing in mind that these will be a hundred major cities, except Moscow and Saint Petersburg where the smallest support is needed. If necessary, we are also ready to participate in supporting projects in the two cities, but our main focus is not on the capitals.

Afterwards we will offer partnership to the municipalities and the regional teams and municipal authorities that want to carry out such projects with our support.

What are the projects? This is municipal solid waste processing, this is clean water, this is modern urban public transport, this is support, for example, for old people’s homes, they are called differently now, or support for organising leisure activities and housing facilities for the elderly where it is possible to sell such services. They, of course, are state-financed establishments, but market-based services are already in demand in big cities.

We are looking to create children’s summer recreation infrastructure in collaboration with municipal and regional authorities. I mean, this is a whole range of activities that allow a city to be built anew or transformed.

This is the construction of up-to-date neighbourhoods, which is done by DOM.RF; this is support for export services to attract foreign tourists, which we do through REC [Russian Export Center].

The city is becoming more attractive. This, of course, is a purely economic dimension: a foreign tourist arrived, spent some or no money.

This is RSMB Corporation. No comfort or modern economy in the city is possible without support for small and medium-sized businesses.

We believe that we, as a coordinator of development institutions, must provide substantial funding to help DOM.RF, RSMB Corporation and REC to reach their goals.

Vladimir Vladimirovich, we are set to work hard, we will concentrate capital where interregional large companies are formed. We know that it is often convenient to have a regional subsidiary that deals with vehicle maintenance or environmental issues.

Putin: Not always economically feasible.

Shuvalov: Yes, but it makes sense in this interregional context, and our partners here are Russian Railways, ROSSETI and Rostelecom. We are building good partner relationships with federal companies.

Putin: Very good.


Source: Russian President’s official website


Short-Term Exchange-Traded Bonds Issued by VEB.RF

1 april 2019 года

VEB.RF issued short-term bonds in additional placements to companies and corporations on 27 and 29 March 2019.

The Bank raised 0.7 billion roubles, including 0.4 billion roubles from bonds with a maturity of 14 days and a coupon of 7.60% p.a. and 0.3 billion roubles from bonds with a maturity of 28 days and a coupon of 7.59% p.a.

The par value of one bond is 1,000 roubles. The bonds were sold at 100% of their par value. The coupon is payable at maturity.

The arrangers of the bond issue are Gazprombank and Svyaz-Bank.

The bonds are on the Moscow Exchange’s Quotation List Level 1. The depository is National Settlement Depository.


VEB published its consolidated financial statements for 2018 as prepared in accordance with IFRS.

29 march 2019 года

VEB published its consolidated financial statements for 2018 as prepared in accordance with IFRS.

The VEB Group’s key performance indicators for 2018 are as follows:

  • The VEB’s Group assets for 2018 remained largely unchanged and as at 31.12.2018 amounted to RUB 3, 361.9 bn. The decrease against the beginning of the year was 0.4% (RUB-14.1 bn).
    • Loans to customers account for 46.5% of the Group’s total assets. As compared to 2017 year end loan portfolio less allowance for impairment declined by 12.5% (RUB -222.4 bn) reaching RUB 1,561.6 bn. Major contributing factors to this decrease were assignment of certain loans to other lenders due to VEB’s fulfilment of its task of a development institution, reclassification of some loans at fair value through profit/ loss and corresponding negative revaluation of such loans.
    • The amount of loans granted by VEB in 2018 reached RUB 95.3 bn.
    • VEB’s key focus in 2018 was project finance tools elaboration. The new mechanism of project financing aims at investment growth in the real sector of the Russian economy as well as investors’ risks minimization. The main concept implies syndicated projects lending through commercial banks and other development institutions involving state subsidized rates and state guaranteed bonds. The model envisages VEB’s non-competition with commercial banks.     

      Legislative framework was laid in 2018, including Russian Government Resolution dated 15.02.2018 №158 on launch of a specialized project finance programme based on syndicated lending principles. State guarantee was received in accordance with Russian Government Resolution dated 06.06.2018 № 654.

      First pilot deals in spheres corresponding to the major areas of VEB’s activity   were approved and countersigned. These included a project of sulphuric acid production facility construction at the site of Kuibyshevazot and a project of Phase 3 methanol production facility construction at Shchekinoazot site, in Tula region.

      The investment portfolio will address national projects (programmes) implementation, as stipulated by the Russian President Executive Order dated 07.05.2018 № 204 “On National Goals and Strategic Objectives of the Russian Federation Through 2024”.

      VEB Supervisory board approved another project in March 2019 – construction of Stage 1 of the mining and metallurgical plant at the Udokan copper deposit. The deal became third and largest to date under this project finance programme.

    • In the reporting period net investment in leases went up by 16.6% (RUB +28.7 bn) to reach RUB 201.8 bn.
  • Total liabilities of the Group as at 31.12.2018 changed insignificantly reaching RUB 3,077.8 bn, increasing by 3.3% (RUB +97.5 bn). It is largely attributable to the increase in amounts due to the Russian Government and the Bank of Russia by 10.9% (RUB +58.2 bn) and rise in the book value of subordinated deposits by 48.4% (RUB +46.3 bn) due to the conversion of NWF foreign currency-denominated deposits to rubles. Additionally under the requirements of the new IFRS 9 standard, allowance for impairment of financial guarantees, recorded in liabilities, was made.
    • Amounts due to banks and debt securities issued account for 52.5% of total liabilities (as at 2017 year end this share was 55.2%). In 2018 the share of amounts due to OECD-banks and Eurobond investors in total amounts due to banks and investors in debt securities declined from 32.9% to 26.7%, the amount of the said liabilities decreased by RUB 110.9 bn, inter alia due to the redemption of Eurobond issue for the nominal value of EUR 1.0 bn in February 2018 and redemption of Eurobond issue for the nominal value of USD 850.0 mn in November 2018.
  • The financial result of 2018 was RUB -175.8 bn, with a positive trend of loss decrease by 38.9% against the result of 2017. The major factor contributing to the 2018 result was revaluation of loans to customers at fair value, as well as a recognition of non-interest expense from NWF foreign currency-denominated deposits conversion to rubles.
  • In 2018 the Group’s equity went down by RUB 111.6 bn (-28.2%) to reach RUB 284.1 bn as at 31.12.2018.
    • Equity decrease was largely driven by the 2018 financial result, transition to IFRS 9 and result on investment financial assets at fair value through other comprehensive income, and foreign currency conversion in the total amount of RUB 71.9 bn.
    • This negative impact was partly offset by the state support measures. In 2018 VEB received federal budget subsidies for a total amount of RUB 136,1 bn, RUB 125.5 bn of which as compensation of costs related to servicing foreign capital market borrowings.
    • VEB’s capital adequacy ratio as at 01.01.2019 was 11.8% (RAS), (10,8% as at 01.01.2018).
  • In 2018 for the first time state support measures were codified in law in order to maintain or amend VEB’s authorized capital structure.  
    • Federal law dated 28.11.2018 № 452-FZ “On Amendments to the Federal Law On the Bank for Development and Certain Legislative Acts of the Russian Federation” provides for the procedure of callable capital allocation to VEB.RF. Under Russian Government Resolution dated 21.12.2018 № 1611 VEB’s authorized capital is to be built inter alia through further asset contributions from the Russian Federation in the amount of RUB 300 bn.
  • VEB.RF’s strategic role of a development institution and state support measures are confirmed by the leading international rating agencies that assigned VEB with credit ratings at the level of the Russian Federation sovereign rating, as well as by the national rating agency, ACRA, that assigned highest credit rating of AAA to VEB.


VEB.RF Expands Solar Power Cooperation with Kyrgyzstan

28 march 2019 года

During an official visit of Russian President Vladimir Putin to Kyrgyzstan, VEB.RF, Russia’s solar giant Hevel Group and Kyrgyzstan’s largest solar manufacturer Astra LLC signed a memorandum of intent. The signing ceremony took place during the 8th Russian-Kyrgyz Interregional Conference in the presence of the Russian and Kyrgyz heads of state.

The document was signed on behalf of VEB.RF by its First Deputy Chairman – Member of the Management Board Nikolay Tsekhomskiy, on behalf of Hevel Group by its CEO Igor Shakhray and on behalf of Astra LLC by its Chairman of the Board of Directors Yaroslav Kuznetsov.

The parties agreed to expand industrial and financial cooperation in the common economic space of the Eurasian Economic Union, encourage global industrial and financial cooperation with a view to stimulating industrial growth and the manufacture of competitive products both for the Russian and Kyrgyz markets and for export to other countries, and promote the most modern technologies for renewable energy and energy efficiency.

Such cooperation may include creating a new industry cluster to make components for highly efficient solar modules that can be used for the construction of generating facilities in Russia and Kyrgyzstan and exported to foreign markets.

“Astra can carry out its scaling-up projects using VEB.RF’s financial instruments and funds raised from other financial institutions,” Nikolay Tsekhomskiy said.

“With the rapid growth of the solar power industry, high-technology production chains in the neighbouring states enhance product competitiveness in foreign markets and enable our countries to fulfil their great industrial potential,” Hevel Group’s CEO Igor Shakhray said.

Founded in 2009, Hevel Group is now Russia’s largest integrated solar power company. The company’s core activities include the high-technology production of solar modules, the construction and operation of solar power stations and solar power research.

Astra LLC was founded in 2016 as a spin-off from OJSC Kyrgyz Chemical and Metallurgical Plant and has developed into Kyrgyzstan’s and the EAEU’s sole producer of single-crystal rods and N-type wafers for the solar market.


Supervisory Board Considers VEB.RF’s Involvement in Large-scale Projects to Strengthen Russia’s Export Potential

26 march 2019 года

On the agenda: projects for the construction of a mining and smelting facility in the Trans-Baikal Territory and a gas-processing plant in the Amur Region; corporate governance issues.

Opening remarks by Dmitry Medvedev:

At today’s meeting of the Supervisory Board, we will discuss several large-scale projects aimed at developing the Far East, which are strategically significant for the Russian economy and for strengthening Russia’s export potential.

I would like to mention several projects that require substantial investment and are of considerable importance.

The first one is the construction of a mining and smelting facility to develop the Udokan copper deposit in the north of the Trans-Baikal Territory. The Udokan deposit is the largest in Russia. The comprehensive development of the deposit involves building an infrastructure to mine the ore, extract the concentrate and create a high-technology cathode copper production facility. Upon completion of the first project phase, the production capacity is expected to reach 12 million tonnes of ore per year.

The project will be carried out under the Project Financing Factory programme. This is just one of the projects selected for this financing mechanism. A total of about 3 billion US dollars will be invested in the project. Approximately one third of the funds were committed by the project initiator. The rest will come from a syndicate of banks, including VEB.RF.

The project is extremely important for the Trans-Baikal Territory. It will create about 2,000 new jobs. The region is in a very difficult situation, and such ambitious projects are definitely needed to bring in modern job opportunities, change the employment pattern and develop the local economy. It is intended that both infrastructure and service facilities will be constructed. There are plans to use public budget funds to renovate the local airport in addition to the construction of power lines and the implementation of other appropriate measures required for the project’s success.

The second project is the construction of the Amur gas-processing plant in the Svobodny advanced development zone, Amur Region. The new plant is expected to become the world’s largest helium refinery and the world’s second largest gas-processing facility. Its feedstock will be high-quality methane to be supplied from natural gas fields in Eastern Siberia via the Power of Siberia pipeline and converted into added-value gas products. The project will create up to 3,000 new jobs.

The project budget is large, about 19 billion euro. Gazprom’s commitment is one third of the required funds, the rest will be provided by a pool of Russian, Chinese and European lenders. VEB.RF’s commitment is expected to be 1.5 billion euro. Its contribution will help to complete this large-scale project, which is strategically important for the country’s development.

We will also discuss a whole range of corporate issues and several transactions, including a compensation-free transfer by VEB of Sviaz-Bank’s shares to the ownership of the Russian Federation, to the treasury of the Russian Federation.

Sources: Website of the Government of the Russian Federation


VEB-Backed Xelent Data Center Gains Certification in High Reliability

25 march 2019 года

Established with financial support from VEB, Xelent Data Center has become the first among Saint Petersburg’s commercial data centres to be officially Tier III certified.

The Uptime Institute Tier Standard: Topology is acknowledged worldwide as a benchmark of reliability for data centres and their users. Tier III is an extremely high reliability standard for equipment and infrastructure. Tier III-certified data centres are notable for their concurrently maintainable infrastructure (including the replacement of system components and faulty hardware).

Counting Xelent, only 28 data centres in Russia have Uptime Institute certification. Less than a dozen of them provide services on a commercial basis. Tier III or higher certification is the first thing needed by potential data centre users seeking reliable and uninterrupted operation.

“Developing the digital economy’s nationwide infrastructure is a business priority for us. With a more than 25 per cent market share, Xelent is now the leader in the Saint Petersburg data centre market. This project will help to increase traffic and resource concentration across the country,” VEB.RF’s First Deputy Chairman Nikolay Tsekhomskiy said.

Designed to accommodate more than 70,000 IT equipment units, the data centre ensures smooth IT infrastructure operation for hundreds of Russian companies in such industries as transport, logistics, finance, retail and wholesale, and public institutions. The data centre also houses the equipment of Europe’s largest social media platform. Every day, over 90 million active users send client requests to the company’s servers located at Xelent Data Center.

The project has won numerous awards from reputable expert communities for unique technological solutions, which is indicative of the creation of unique competencies in the country.

Uptime Institute is a world-renowned unbiased certification authority that develops its own reliability standards for data centres. The standards are built on international best practices in the creation and operation of data centres. Unlike other globally recognised certifications, Uptime Institute standards are primarily designed to serve enterprise organisations and protect investment in data centres. This approach makes it possible to set all reliability and security requirements for a future data centre at the design stage and create the optimum operation conditions, thus improving project economics.


Short-Term Exchange-Traded Bonds Issued by VEB.RF

22 march 2019 года

VEB.RF issued short-term bonds in additional placements to companies and corporations on 20 and 21 March 2019.

The Bank raised 13.84 billion roubles, including 13.5 billion roubles from bonds with a maturity of 14 days and a coupon of 7.61% p.a. and 0.34 billion roubles from bonds with a maturity of 21 days and a coupon of 7.61% p.a.

The par value of one bond is 1,000 roubles. The bonds were sold at 100% of their par value. The coupon is payable at maturity.

The arrangers of the bond issue are Gazprombank and Svyaz-Bank.

The bonds are on the Moscow Exchange’s Quotation List Level 1. The depository is National Settlement Depository.


Russia’s Exporter of the Year Award to Go to Best Businesses Operating in Foreign Markets

20 march 2019 года

The award is established as part of the International Cooperation and Export national project.

The winners will be selected in two stages, first in all federal districts and then at national level. The award ceremony will be held in late 2019 during the Made in Russia Forum with the participation of top public officials.

“Exporter of the Year is awarded to support and grow export-oriented domestic businesses, and to discover and encourage the best exporters and promote best practices in international trade,” Andrey Slepnev, Russian Export Center CEO, said.

The award categories include Industrial Exporter of the Year, Service Exporter of the Year, Agribusiness Exporter of the Year, High Technology Exporter of the Year, Breakthrough of the Year (special category for SMEs), and New Geography (special category for large businesses).

The award is notable for its national level of recognising exporters’ achievements and for its wide geography across Russian regions and federal districts.

The award application form can be completed online on the Russian Export Center website at The applicants will be ranked based on the declared export profile. At the initial stage, the exporters will be requested to provide a minimum set of documents.

For further information, participants may call +7 495 967 12 58 (ext. 1170) or email


VEB.RF, Development Institutions and METRO Cash & Carry to Launch Integrated Development Programme for Small Urban Trade Businesses

20 march 2019 года

During the METRO Expo trade fair, VEB.RF, RSMB Corporation, SME Bank, DOM.RF and METRO Cash & Carry signed a cooperation agreement. The parties agreed to encourage SME development and provide support for individual entrepreneurship, such as support for the expansion of a corner shop chain and mobile food businesses.

The parties to the agreement will lend comprehensive support, from the search for shopping premises to financial, guarantee and leasing support for small businesses, agricultural cooperatives and farmers to the expansion of marketing channels through the sale of their products, including as part of the Bean franchise programme.

The agreement was signed by VEB.RF’s Chairman Igor Shuvalov, RSMB Corporation’s General Director Alexander Braverman, DOM.RF’s CEO Alexander Plutnik, METRO Cash & Carry Russia’s General Director Jerry Calmis and SME Bank’s First Deputy Chairman of the Board Denis Ursulyak.

“The creation of a comfortable urban environment is not limited to the implementation of large-scale long-term projects. The agreement that we signed today is a good example of efficient cooperation between development institutions and businesses, where each is ready to offer support measures aimed at helping to grow the food retail chain. Our primary goal is to improve the quality of life,” VEB.RF’s Chairman Igor Shuvalov said.

DOM.RF will offer businesses comprehensive support in relation to commercial real estate and banking services, including providing information on real properties eligible for the programme, DOM.RF Bank’s services and DOM.RF’s direct assistance with project implementation.

“The development of small and medium-sized businesses is essential for creating a comfortable urban environment and infrastructure. The standard of integrated spatial development, which is being defined by DOM.RF, recommends allocating ground floors of residential buildings to small and medium-sized businesses so that people can use a variety of retail outlets and service centres in the neighbourhood,” DOM.RF’s CEO Alexander Plutnik commented.

“Providing businesses with new opportunities to fulfil their potential within the Russian SME segment is of great significance. It is critically important that the initiatives come from major market players with considerable potential and experience that can be shared with small businesses eager to promote cooperation. RSMB Corporation is willing to provide full-scale support for the participants of the METRO Cash & Carry project, including financial, information and other support; project participant selection; assistance to agricultural cooperatives and farmers in expanding their marketing channels,” RSMB Corporation’s General Director Alexander Braverman said.

SME Bank’s First Deputy Chairman of the Board Denis Ursulyak emphasized: “Small and medium-sized businesses help to form the urban environment and foster people’s well-being and comfort. It is extremely important to support this segment. Our agreement consolidates various financial and non-financial measures to support businesses and offers SMEs opportunities for growth. For us, as a bank supporting small and medium-sized enterprises, it is the primary objective and the principal goal.”

METRO Cash & Carry will give domestic entrepreneurs assistance in equipping their retail facilities and provide recommendations and expert assistance for private retailers, specifically under the Bean programme.


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