VEB.RF issued short-term bonds in additional placements to companies and corporations on 10, 11 and 12 July 2019.
The Bank raised 12 billion roubles, including 10 billion roubles from bonds with a maturity of 14 days and a coupon of 7.28% p.a., 1 billion roubles from bonds with a maturity of 21 days and a coupon of 7.27% p.a., and 1 billion roubles from bonds with a maturity of 28 days and a coupon of 7.27% 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 arranger of the bond issue is Gazprombank.
The bonds are on the Moscow Exchange’s Quotation List Level 1. The depository is National Settlement Depository.
State Development Corporation “VEB.RF” and its subsidiary, Russian Export Centre, provided backing for exports to Uzbekistan in the amount of more than 1 billion euros. VEB.RF’s new loan agreements provide for 174 million euros worth of financing to be extended in the next three years to promote Russian high-technology exports to Uzbekistan. Delivery of trains for the Tashkent Metro and electric power equipment is one of the projects.
“Uzbekistan has become for us an important business destination. VEB.RF is committed to encouraging bilateral trade and economic cooperation. Primarily, we are talking about carrying out electric power and urban infrastructure projects in Uzbekistan. We have been promoting multifaceted cooperation with our financial partner in Uzbekistan, the National Bank of Uzbekistan, in particular via the Shanghai Cooperation Organisation Interbank Consortium. Notably, funds are being successfully drawn down under two electrical power projects. Several projects are currently being scrutinised,” VEB.RF’s Chairman Igor Shuvalov said.
At the end of May this year, during the visit of Dmitry Medvedev to Uzbekistan, VEB.RF and NBU signed a new 10-year loan agreement to finance a project on the delivery of five trains for the Tashkent metro for a total of 22.14 million euros.
VEB.Rf is currently considering cooperation on potentially worthwhile hydropower projects in Uzbekistan. The corporation intends to commit up to 280 million euros for the projects.
“Uzbekistan’s economy is rapidly developing, with a special focus placed on the public transport upgrade. We hope that our pilot project on the delivery of metro trains will be followed by other interesting projects relating to the exports of Russian technologies to Tashkent,” Igor Shuvalov emphasised.
Igor Shuvalov at Moscow Urban Forum: ‘Quality Urban Environment Requires Constant Change’
VEB.RF’s Chairman Igor Shuvalov took part in the Moscow Urban Forum. He spoke at the plenary session Quality for Everyone. Balanced Urban Development on the results of the forum My District. The session’s speakers included Moscow Mayor Sergey Sobyanin, Mayor of Kuala Lumpur Nor Hisham Ahmad Dahlan, Yandex’s Managing Director Tigran Khudaverdyan, Wowhaus Architecture Bureau’s Partner Oleg Shapiro, and Film Director Timur Bekmambetov.
According to Igor Shuvalov, a modern urban development agenda appeared on the federal and international levels primarily due to the efforts of Moscow’s authorities. VEB.RF’s Chairman spoke about WEF’s Global Future Council on Cities.
VEB.RF in cooperation with DOM.RF, RSMB Corporation, Russian Export Centre is proactive in modern urban economy development. For example, RSMB Corporation provides packaged solutions to businesses which will bring life to city streets. A proper approach may change the life of even a small town with a meagre budget. It is proven by the experience of MONOGORODA.RF.
VEB.RF’s primary focus is on clean water, recycling, waste treatment facilities, and modern public transport projects. In particular, VEB.RF participates in the supply of carriages to the Moscow Metro.
According to Igor Shuvalov, VEB.RF is ready to scale promising Moscow’s digital solutions, including those in healthcare and education.
VEB.RF highlighted that changes in Russian cities and towns will improve the quality of life of 80% of the country’s population. People shall live and work wherever they choose. A quality urban environment requires constant change and new challenges.
The managers of VEB.RF and the Russian Export Centre (REC) will pay a working visit to Italy. REC is planning to open an Italian Representative Office to support exporters. The office will be opened in Milan. In addition, an export support group with participation of the Trade Representation of Russia in Rome will be organised. This project is a part of the Integrated Export Promotion System in the Russian constituent entities and abroad. Integrated export support offices were introduced under the International Cooperation and Export national project.
VEB.RF’s Chairman Igor Shuvalov said: “We are bringing together all tools for international and regional export promotion under REC’s umbrella and consolidating development institutions’ resources and measures of government support. I hope that Russian small, medium and large exporters will appreciate the benefits of the integrated network. Italy is one of the key partners of Russia in Europe. Our companies have significant cooperation potential.”
REC’s CEO Andrey Slepnev said: “Our integrated export support system in Italy will significantly expand support measures’ choice, substantially speed up the delivery of services, organise the end-to-end interaction among export support centres in Russian constituent entities and all Italian regions. Moreover, this system will make it possible for Russian exporters to efficiently open up the Italian market, and hence all European markets.”
Earlier VEB.RF, the Ministry of Industry and Trade of the Russian Federation, and Russian Export Centre signed a trilateral Memorandum on foreign trade cooperation and development of the Integrated Export Promotion System. The parties agreed to share VEB.RF, REC and Russian Trade Representations experience, opportunities, resources and infrastructure.
Today REC already has new format joint Representative Offices in India, Uzbekistan, Vietnam, and China.
In 2019, new offices will be opened in Germany (Frankfurt am Main), Turkey and Singapore. The offices will be hosted by the Trade Representations of the Russian Federation.
Italy is one the major traditional trade partners of Russia and ranks 5th by trade turnover. As at the end of 2018, the turnover amounted to 27 billion USD (a 13% increase).
VEB.RF, Sberbank and METRO AG Agree to Promote SME Digital Platform in Russia
VEB.RF and Sberbank have agreed to promote METRO AG’s digital platform in Russia to develop small and medium-sized catering businesses. The news was announced by VEB.RF’s Chairman Igor Shuvalov after the meeting between representatives of VEB.RF and METRO AG in Düsseldorf.
During the meeting, the parties discussed the integration of digital solutions into SME development. METRO AG presented its DISH digital gastronomic platform offering an integrated solution for caterers and enabling to convert business processes into a digital format. The platform was initially launched in Germany and Italy, and since 2019, it has been operating in other 14 countries.
“Catering is one of the largest and the most important business areas. I would like to work together with you and Sberbank to promote this platform in Russia. I made a respective offer to Mr. Gref, and he welcomed it. As you know, Sberbank is the largest financial institution in Russia possessing requisite tools and technologies. We, as a development institution, are interested in developing technologies for SMEs in Russia. We do not stop working on it. I believe that together we will be able to implement this digital solution in Russia,” Igor Shuvalov said.
The parties also discussed other SME digitalisation instruments aimed at boosting the productivity of catering companies, ensuring more favourable business conditions, improving customer-staff relations, and creating new business models.
In March 2019, RSMB Corporation, SME Bank, DOM.RF and METRO Cash & Carry agreed to encourage SME development and support individual entrepreneurship, and specifically to encourage 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, and 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 will be implemented using the tools of RSMB Corporation’s on-line business geomarketing navigator for SMEs. RSMB Corporation and METRO AG actively cooperate to promote the sales of agricultural cooperatives’ and farmers’ products through federal retail chains. RSMB Corporation and METRO AG signed a respective cooperation agreement.