Moscow. July 12. INTERFAX - At Thursday’s meeting of the Bank Supervisory Board a Memorandum of the Bank’s Financial Policy was approved, said VEB Chairman Vladimir Dmitriev. “The Memorandum specifies the Bank’s core lines of business associated with overcoming infrastructure growth limitations, support for high-technology productions, rational use of natural resources, support for small and medium-size business and industrial exports,” Vladimir Dmirtiev told journalists on Thursday. He also said that the Memorandum specifies criteria for selecting investment projects, with these criteria dealing with the size of investment projects and their payoff periods. Furthermore, the Supervisory Board approved limits, the Bank’s operational standards and basic provisions of the Bank’s financial policy. “Their aim is to ensure the Bank’s sustainable development and financial stability,” emphasized Vladimir Dmitriev . According to Vladimir Dmitriev, from today on, the Bank management bodies start to work at their full capacity, therefore, relevant documents are to be approved by the Government.
Today, on June 28, 2007, the first meeting of the state corporation “The Bank for Development and Foreign Economic Affairs (Vnesheconombank)” was held in the House of the Russian Government. The meeting was presided by Russian Prime Minister Mikhail Fradkov.
The Supervisory Council approved the members of Vnesheconombank’s Board. Nikolay Kosov, Anatoly Zabaznov, Sergey Lykov, Alexey Smirnov, Vladimir Shaprinsky, Anatoly Ballo, Petr Fradkov, Sergey Vasiliev were appointed as members of the Board. Board Chairman Vladimir Dmitriev will be responsible for running Vnesheconombank’s Board.
The Supervisory Board also appointed Vyacheslav Ulupov as Head of Vnesheconombank Internal Control Service.
Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 208-46-93, Fax: +7 (495) 975-21-34