Vnesheconombank’s supervisory board regular meeting held

Vladimir Putin's Opening Address

Good afternoon esteemed colleagues. Today we are holding a final meeting of Vnesheconombank’s Supervisory Board in the outgoing year, and I would like first of all to thank the Bank's management and all its employees for their intensive and hard work in the outgoing year.. A great deal has been accomplished almost without fail. The scale of the work is impressive. I very much hope that the Bank will go on operating in a highly professional way..

We face major challenges of modernizing our economy and making it more competitive and innovative. There are many challenges involved in developing territories. Vnesheconombank is actively working in practically all these areas.

I must say that VEB's loan portfolio has increased by almost 40% in the first eleven months of this year as a development institution - not just as a rank and file financial institution.

Moreover, Vnesheconombank is acquiring and has already practically acquired new instruments for achieving the tasks assigned to it. I mean above all the fact that the management company of the Russian Direct Investment Fund has started operating. It has been created quite recently, but the management company has projects worth 180 billion rubles in its loan portfolio. This is no mean achievement.

Esteemed colleagues, despite well-known difficulties and troubling  developments in the world economy, and they are indeed alarming,  some complicated processes are also taking place in advanced market economies and some countries are already in recession, that is, their economies have experienced a contraction in GDP for three consecutive months, and there are gloomy forecasts for some euro-zone countries and the States (things have improved a bit there, but on the whole the problems persist)  I would like to note that the Direct Investment Fund we have set up may be very much needed because there are not many promising and reliable projects  in the world, but we have some. Global investment funds have considerable resources: they are looking for places to spend these resources. As you know, most recently I’ve been at the launch of  the Kyzyl-Kuragino railway.  Here we have an example of such a project: huge deposits, top quality coal and an absolutely reliable sales market. There are not  many such projects in the world, and it is not the only one in Russia. So, I would like you to actively launch such projects and to work more energetically with our partners in the Investment Fund. Step up your efforts! I am sure that  we won’t  even  have  to use our reserves and budget resources. Why should we if those who have the money are looking for projects to invest in and we have them? All we need is to work more actively in this direction.

The North Caucasus Development Corporation, set up under your Bank's auspices, has started operating. The Russian Export Credit and Investment Insurance Agency also faces major tasks. We expect the Agency to take energetic steps to support our enterprises, above all of course, those in high-tech sectors. That is what it was created for. Oil and gas workers and metallurgists have their niches in world markets. We need to support high-tech exports.

I would like to stress once again that the tasks aimed at creating points of growth and supporting innovations are linked to supporting exports. I expect VEB’s team to go on working efficiently and consistently.

Now I’d like to say a few words about the current agenda. I see here some interesting projects that stand out not only in terms of their scale, but are in my opinion potentially very useful for improving our economy. The first of these is the project to develop the potassium and manganese salt deposits and to build a mining and concentration plant in the Perm Territory. Why did it catch my attention? Not only because VEB is committed to investing heavily in it (more than 40 billion rubles), but because it is a step that should eventually lead to demonopolization of that sector of our economy. Demonopolization is very important. This is not to say that we should eliminate someone, on the contrary, when a competitive environment is created, the situation improves and prices for a needed and important agricultural product are stabilize, the export potential increases, and in this case VEB does not only enter the capital worth 6.7 billion rubles, but also extends  a 33 billion ruble credit. That is a huge amount. The capacity of the mining and concentration plant will be about 2 million tones of potassium chloride, of which 600,000 tonnes should be sold on the domestic market. I am sure it will give an extra boost to our agro-industrial complex.

Second, a 25 billion-ruble credit line is to be opened for the construction of the middle segment of the Western High-Speed Diameter motorway in St Petersburg. It is a very important project for the northwest of our country, not only for the city of five million but for the entire northwest. There’s no doubt, it will mark a step forward in developing our infrastructure and in giving a second wind to this part of our country, giving it a new character that is in line with European standards, and it will free this city of five million people from an excessive number of heavy vehicles, many of which still pass through central parts of the city even after the ring road around Petersburg was built. The Western High-Speed Diameter is very important for the city.

I was in Petersburg on December 23 attending the ceremony of signing relevant documents. I would like to thank all those who worked actively in order to draw one more line and create necessary conditions for the work to start.

Finally, a 2.5 billion-ruble credit is to be extended for the "Film Club: Culture, Education, Communications" project involving the creation of a cluster of such clubs within the KinoCity project. At least 250 multimedia cinemas are to be built, above all in small and medium-sized towns. This kind of social infrastructure is in short supply in our small and medium-sized towns, and we should do our best to launch it. We have discussed it more than once. I know some agencies have their own ideas on that score, but I would like to stress that we must support this kind of projects. Such clubs are unevenly distributed throughout our country and they need to be supported. The situation is more or less normal in cities with a population of over a million, while in small and medium-sized cities the number of such clubs is diminishing. They must be supported.

Let's start our work.


Origin: Internet-Portal of the Government of the Russian Federation


Vnesheconombank’s supervisory board regular meeting held

V.V Putin’s Opening Address:

Good evening esteemed colleagues,

Today we are to discuss Vnesheconombank’s mid-term strategy up to the year 2016. I’d like to note that the Bank’s business experience as a development institution was taken into account when the strategy was worked out. It is this line of the Bank’s activity that should be enhanced in the coming years. VEB must play a more active role in the investment policy, act as a powerful financial driving force of projects that are designed to change the structure of the Russian economy, make it more sustainable against any external shocks. Top priority should be certainly given to supporting high-technology and infrastructure programs, projects that create new quality jobs.

I’d like to stress that even now VEB is highly instrumental in modernizing the Russian economy. For example, the Bank’s loan portfolio as a bank for development increased from early 2009 by more than 80%. And above all this increase was achieved by funding key industrial enterprises, the high-technology sector, transport as well as the most important construction projects and facilities in electronics, infrastructure and transport mechanical engineering.

I’d like to list objectives VEB will have to address in the coming four years. First, VEB is supposed to invest about 2 trillion rubles in the Russian economy till the end of 2015. These are significant resources – about 2.4% of GDP. The Bank for Development will have to more than double its loan portfolio and the proportion of high-technology and innovations projects should increase from 15 to 20% in the total financing amount.

The Bank’s cooperation with the Agency for Strategic Initiatives will become an important line of its innovative activity. Here, VEB can act as a consultant, provide qualified expert support in selecting projects to be offered by this Agency.

Second, the Bank should increase by many times its support for high-technology exports. We should realize the Bank’s full potential to help our companies to tap into the most advanced, promising markets. By 2016, the amount of support for our exporters, their innovative technological products should be about 90 billion rubles.

In this respect, today we have to approve the Charter of the Russian Export Credit and Investment Insurance Agency and form its governance bodies. The Agency’s charter capital is 30 billion rubles. This new institution will take some of financial risks, help our exporters to tap into international markets and promote high-technology products and services. We expect the Agency to operate effectively. I hope that as early as this year Russian exporters will be able to get their first contract insured with its assistance.

The third and very important line of activity. I’d like to stress that Vnesheconombank’s strategic priority will be to advance programs aimed at providing support for small and medium-sized enterprises. And at the same time top priority will be given to supporting companies operating in the non-trade sector of the economy, to funding innovation projects associated with creating new production facilities, quality products and technologies. And there is no doubt that the Bank will go on participating in housing programs. VEB has already earmarked up to 250 billion rubles to develop mortgage lending including refinancing of housing credits.


Origin: Internet-Portal of the Russian Government


VEB’s Supervisory Board Approves the Bank’s Development Strategy till 2016

Moscow, September 27 – PRIME. VEB’s Supervisory Board approved the development strategy of the Bank for 2011-2015. The strategy will make it possible to make full use of VEB’s instruments as a Bank for Development, VEB Chairman Vladimir Dmitriev told journalists.

“Specifically, the Bank’s loan portfolio is scheduled to amount to 850 billion rubles. VEB Leasing is to conduct leasing transactions for the amount of 150 billion rubles. VEB’s contribution to the development of the Russian economy would amount to more than 2% of GDP”, he said.

According to him the strategy also provides for supporting Russian industrial exports in the amount of about 90 billion rubles till 2016.

“We have approved parameters for conducting transactions on stock markets”, he said.

Dmitriev said that the previous strategy is deemed to have been completed. “Our current strategy aims to fulfill VEB’s potential as a bank for development”, he said adding that in the previous years VEB has failed to achieve this objective in full as it had to carry out crisis management measures in the economy, RIA Novosti reported.


Petr Frakov Appointed as Head of Export Credit and Investment Insurance Agency

Moscow. September 27. INTERFAX- Vnesheconombank’s Supervisory Board approved a charter of the Export Credit and Investment Insurance Agency.

Petr Fradkov was appointed as the Agency’s Director, Vnesheconombank Chairman Vladimir Dmitriev said.

Investments in supporting Russia’s industrial exports are to amount up to 90 billion rubles. Petr Fradkov is appointed as the Agency’s Director, VEB Chairman Vladimir Dmitriev told journalists after the Supervisory Board’s meeting on Tuesday.


VEB Approves Funding of Rusal’s Taishet Plant

MOSCOW, September 27 (Reuter) – VEB’s Supervisory Board approved financing of Rusal’s project on the construction of the Taishet Aluminum Plant in the amount of 40 billion rubles for a period of 15 years, Vnesheconombank Chairman Vladimir Dmitriev told journalists.

“All basic parameters have been approved. The funding amount is about 40 billion rubles. The project is to be funded in foreign currency – either in dollars or in euros”, he said after VEB’s Supervisory Board meeting.

VEB is now holding talks on funding the project in full through a credit line of a foreign partner bank.

VEB’s Supervisory Board agreed in principle to fund the project as early as at the beginning of August.

The construction of the Taishet plant started in 2007. During the crisis the project was frozen due to the absence of funds. The construction was renewed and it is now being funded through using Rusal’s own funds.

Depending of the Taishet project’s completion Rusal plans to increase aluminum production to 4.8-4.9 million tons per year against 4.08 million tons in 2010.

VEB’s Supervisory Board Approves Commitment of 39 billion Rubles to Build Sollers-Ford JV

MOSCOW, September 28 – RIA Novosti. Vnesheconombank’s Supervisory Board finally approved extending a 10-year credit worth 39 billion rubles for creating a Sollers-Ford Joint Venture, Vnesheconombank Chairman Vladimir Dmitriev told journalists.

“The project’s final version has been presented today with all terms and conditions and with a trilateral agreement (VEB, Ford, and Sollers) with regard to minimizing risks that might emerge upon occurrence of a whole number of circumstances including force major circumstances”, Mr. Dmitriev said.

He said that in the near future the project would be launched.

According to him the credit’s 36 billion rubles will be used for making investments and 3 billion rubles will comprise current assets.

In mid September, at the 10th Investment Forum in Sochi State Corporation Vnesheconombank and OJSC Sollers signed a credit agreement on creating a Sollers-Ford Joint Venture to manufacture commercial cars and all-roaders with a capacity of up to 350 thousand automobiles per year.

In June of 2011, Russian Automobile Company Sollers and American Auto Concern Ford signed an agreement with Vnesheconombank on extending a credit to fund the creation of a joint venture to manufacture automobiles in Russia.


VEB Intends to Use 10% of its Profit to Capitalize SME Bank

MOSCOW, September 28 – RIA Novosti. Vnesheconombank intends to use 10% of its profit annually to capitalize its subsidiary OJSC SME Bank, earlier the Russian Development Bank, Vnesheconombank Chairman Vladimir Dmitriev told journalists on Tuesday.

He said that originally they planned to use 10 billion rubles from the federal budget annually to capitalize this bank. “But there are budget constraints that make it impossible to increase the bank’s capitalization through using budgetary funds”, said Mr. Dmitriev.

Nevertheless, he said that it was necessary to additionally capitalize SME Bank to bring the amount of funds intended for supporting small and medium-sized business to 150 billion rubles by late 2015.

Mr. Dmitriev didn’t rule out that in case of improved world financial conditions and Russia’s improved budget it would be possible to raise a question of supporting the bank through using budgetary funds in the amounts planned earlier (10 billion rubles per year).


VEB’s Supervisory Board Approves Ernst & Young as Auditor of the Bank’s Financial Statements for 2011

MOSCOW, September 27 – PRIME. Vnesheconombank’s Supervisory Board approved Britain’s Auditing Company Ernst & Young as auditor of the State Corporation’s financial statements for 2011, Vnesheconombank Chairman Vladimir Dmitriev told journalists on Tuesday.

“We approved Ernst & Young as VEB’s auditor” said Mr. Dmitriev after the Supervisory Board meeting.

A tender for conducting a mandatory annual audit of the State Corporation’s financial statements for 2011 was announced on July 19, the envelopes with bids were opened on August 24. Russian subsidiary of Britain’s company – LLC Ernst and Young was declared the winner of the tender.

The following three auditing companies were allowed to participate in the tender: CJSC BDO with a bid price of 4.928 million rubles minus VAT, CJSC KPMG (a bid price of 8 million rubles minus VAT) and LLC Ernst and Young (a bid price of 1.1 million rubles minus VAT, RIA Novosti reported.



Состоялось очередное заседание наблюдательного совета Внешэкономбанка

Вступительное слово В.В.Путина:

Добрый вечер, уважаемые коллеги!

Нам сегодня предстоит рассмотреть среднесрочную стратегию Внешэкономбанка до 2016 года. Отмечу, что при её разработке был учтён опыт работы банка как института развития. Именно это направление необходимо серьёзно усилить в предстоящие годы. ВЭБ должен играть более активную роль в инвестиционной политике, выступать мощным финансовым локомотивом проектов, призванных изменить саму структуру российской экономики, повысить её устойчивость перед любыми внешними шоками. Особый приоритет – конечно, поддержке высокотехнологичных и инфраструктурных программ, проектов, которые создают новые, качественные рабочие места.

Отмечу, что уже сейчас ВЭБ активно способствует глубокой модернизации отечественной экономики. Так, объём кредитного портфеля банка как Банка развития увеличился по сравнению с началом 2009 года более чем на 80%. И прежде всего такой рост обеспечен за счёт кредитования ключевых предприятий промышленности, сферы высоких технологий, транспорта, а также важнейших строек и объектов – например, в электронике, инфраструктуре, транспортном машиностроении.

Отмечу задачи, которые нужно будет решать банку в ближайшие четыре года. Во-первых, до конца 2015 года ВЭБу предстоит вложить в экономику России около 2 трлн рублей. Это очень приличные ресурсы, примерно 2,4% ВВП. Более чем в 2 раза необходимо будет увеличить объём кредитного портфеля Банка развития, причём в структуре кредитования должна увеличиться доля высокотехнологичных и инновационных проектов – рост с 15 до 20% в общем объёме финансирования.

Важным направлением инновационной деятельности банка станет сотрудничество с Агентством стратегических инициатив. Здесь ВЭБ может выступить в качестве консультанта, оказывать квалифицированную экспертную поддержку при отборе проектов, которые будут предлагаться этим агентством.

Во-вторых, предстоит в разы увеличить поддержку высокотехнологичного экспорта. Нужно в полной мере использовать возможности Внешэкономбанка, чтобы помочь нашим компаниям пробиться на самые передовые и перспективные рынки. К 2016 году объём поддержки наших экспортёров, их инновационной, технологической продукции должен составить порядка 90 млрд рублей.

В этой связи отмечу, что сегодня мы должны утвердить устав Российского агентства по страхованию экспортных кредитов и инвестиций, сформировать его руководящие органы. Размер уставного капитала – 30 млрд рублей. Новая структура будет брать на себя часть финансовых рисков, помогать нашим экспортёрам осваивать международные рынки, продвигать высокотехнологичную продукцию и услуги. Ждём от агентства активной работы. Надеюсь, что уже в этом году российские экспортёры смогут застраховать с его помощью свои первые контракты.

Третье и очень важное направление деятельности. Хочу подчеркнуть, стратегическим приоритетом Внешэкономбанка и дальше будет развитие программ поддержки малого и среднего предпринимательства. При этом основной акцент будет делаться на поддержку компаний, работающих в неторговом секторе экономики, на финансирование инновационных проектов, связанных с созданием новых производств, качественных товаров и технологий. И, конечно, продолжится участие банка в жилищных программах. На развитие ипотеки, включая рефинансирование жилищных кредитов, ВЭБ уже зарезервировал до 250 млрд рублей.

Источник: Интернет-портал Правительства Российской Федерации


О решениях Наблюдательного совета Внешэкономбанка


Набсовет ВЭБа одобрил стратегию развития банка до 2016 года

МОСКВА, 27 сен - ПРАЙМ. Набсовет ВЭБа одобрил стратегию развития банка на 2011-2015 годы, которая позволит в полной мере задействовать инструменты ВЭБа как банка развития, сообщил глава ВЭБа Владимир Дмитриев журналистам.

"В частности, предусматривается что объем кредитного портфеля достигнет 850 миллиардов рублей, по линии "ВЭБ Лизинга" будет обеспечено лизинговых операций на сумму 150 миллиардов рублей, вклад ВЭБ а в развитие экономики РФ составит более 2% ВВП", - сказал он.

По его словам, стратегия также предусматривает поддержку российского промышленного экспорта в размере порядка 90 миллиардов рублей до 2016 года.

"Утверждены параметры, в рамках которых будут проводиться операции на фондовых рынках", - сказал он.

Дмитриев отметил, что предыдущая стратегия считается выполненной. "Нынешняя стратегия нацелена на реализацию потенциала ВЭБа, как банка развития", - сказал он, добавив, что в предыдущие годы эту задачу ВЭБу в полной мере выполнить не удалось в связи с необходимостью реализации антикризисных мер в экономике, передает РИА Новости.


Главой Агентства по страхованию экспортных кредитов и инвестиций назначен Петр Фрадков

Москва. 27 сентября. ИНТЕРФАКС - Набсовет Внешэкономбанка (ВЭБ) одобрил устав Агентства по страхованию экспортных кредитов и инвестиций и согласовал кандидатуры членов совета директоров этого агентства.

Его директором назначен Петр Фрадков, сообщил глава ВЭБа Владимир Дмитриев.

"Объем вложений в поддержку российского промышленного экспорта составит до 90 млрд рублей. Директором агентства назначен Петр Фрадков", - заявил глава ВЭБа Владимир Дмитриев журналистам по итогам заседания набсовета во вторник.


ВЭБ одобрил финансирование Тайшетского завода Русала

 МОСКВА, 27 сен (Рейтер) -  Набсовет ВЭБа одобрил  финансирование проекта Русала   по строительству  Тайшетского алюминиевого завода (ТАЗ) в размере 40 миллиардов рублей на 15 лет,  сказал журналистам глава ВЭБа Владимир Дмитриев.

 "Все исходные параметры понятны и были утверждены.  Объем нашего финансирования - около 40 миллиардов рублей, причем проект будет  финансироваться в валюте - долларах или евро", - сказал он по итогам заседания  набсовета ВЭБа.

ВЭБ сейчас ведет переговоры о том, чтобы проект был  в полном объеме профинансирован через кредитную линию одного из  иностранных банков-партнеров.

 Принципиальное согласие на финансирование Набсовет дал еще в начале августа.

Строительство ТАЗа началось в 2007 году, в период кризиса проект  был заморожен из-за отсутствия финансирования. Сейчас строительство  возобновлено и пока финансируется из собственных средств Русала.

В зависимости от завершения проекта Тайшет Русал к 2015-2016 годам  рассчитывает увеличить производство алюминия до 4,8-4,9 миллиона тонн в год  против 4,08 миллиона тонн в 2010  году.


Набсовет ВЭБа окончательно одобрил выделение 39 млрд руб на создание СП "Соллерс-Ford"

МОСКВА, 28 сен - РИА Новости. Набсовет Внешэкономбанка окончательно одобрил выделение 10-летнего кредита в размере 39 миллиардов рублей в рамках создания СП "Соллерс-Ford", сообщил журналистам глава ВЭБа Владимир Дмитриев

"Сегодня представили финальную версию проекта со всеми условиями с трехсторонним соглашением (ВЭБ, Ford и "Соллерс" ) относительно минимизации рисков, которые возможны при наступления целого ряда обстоятельств, включая форс-мажорные обстоятельства", - сказал Дмитриев.

Он отметил, что в скором времени проект будет запущен.

По его словам, в рамках кредита 36 миллиардов рублей пойдут на капвложения, а 3 миллиарда рублей составят оборотные средства.

Госкорпорация Внешэкономбанк и ОАО "Соллерс" в середине сентября на X Международном инвестиционном форуме в Сочи подписали кредитное соглашение по финансированию проекта создания совместного предприятия " Ford -Соллерс" по производству легковых, коммерческих автомобилей и внедорожников мощностью до 350 тысяч автомобилей в год.

В июне 2011 года российская автомобильная компания "Соллерс" и американский автоконцерн Ford подписали с Внешэкономбанком соглашение о выделении кредита для финансирования создания совместного предприятия по выпуску автомобилей в России.


ВЭБ намерен направлять 10% прибыли на капитализацию МСП Банка

МОСКВА, 28 сен - РИА Новости. Внешэкономбанк намерен ежегодно направлять 10% прибыли на капитализацию своей "дочки" ОАО "Российский банк поддержки малого и среднего предпринимательства" (МСП Банк, ранее - Российский банк развития, или РосБР), сообщил во вторник журналистам глава ВЭБа Владимир Дмитриев.

Он отметил, что изначально планировалось направлять на капитализацию данного банка 10 миллиардов каждый год за счет федерального бюджета. "Но существуют бюджетные ограничения, не позволяющие увеличивать капитализацию банка за счет бюджета", - сказал Дмитриев.

Вместе с тем, по его словам, докапитализация МСП Банка необходима для того, чтобы довести объем поддержки малого и среднего бизнеса минимум до 150 миллиардов рублей к концу 2015 года.

Дмитриев не исключил, что в случае улучшения мировой конъюнктуры и "улучшения бюджета РФ" можно будет поставить вопрос о поддержке банка за счет бюджета в ранее планировавшихся объемах (10 миллиардов рублей в год.


Набсовет ВЭБа утвердил Ernst & Young аудитором отчетности за 2011 год

МОСКВА, 27 сен - ПРАЙМ. Наблюдательный совет Внешэкономбанка утвердил аудитором годовой отчетности госкорпорации за 2011 год британскую аудиторскую компанию Ernst & Young, сообщил во вторник журналистам председатель ВЭБа Владимир Дмитриев.

"Мы утвердили аудитора ВЭБа - компанию Ernst & Young", - сказал Дмитриев по итогам заседания набсовета.

Конкурс на проведение обязательного ежегодного аудита годовой отчетности госкорпорации за 2011 год был объявлен 19 июля, конверты с заявками вскрыты 24 августа. Победителем конкурса была признана российская "дочка" британской компании - ООО "Эрнст энд Янг".

Всего к участию в конкурсе были допущены три аудиторские организации: ЗАО "БДО" с предложением о цене договора 4,928 миллиона рублей без НДС, ЗАО "КПМГ" (предложение - 8 миллионов рублей без НДС) и ООО "Эрнст энд Янг" (предложение - 1,1 миллиона рублей без НДС), передает РИА Новости.




Vnesheconombank’s supervisory board regular meeting held

V.V Putin’s Opening Address:

Good evening esteemed colleagues,

Today, we have a wide agenda. We are to approve Vnesheconombank’s annual report for the year 2010 and consider a number of large-scale projects in the financing of which Vnesheconombank participates.

I would like to say that Vnesheconombank’s activity priorities changed last year. The general economic stabilization and the start of the post-crisis period allowed the Bank to switch from taking emergency measures for providing support for various economic sectors and individual enterprises to accomplishing long-term objectives. Here I mean above all programs aimed at modernizing enterprises, quality infrastructure upgrading and of course supporting small and medium-sized enterprises.

Last year, the entire amount of resources allocated by Vnesheconombank for technological, infrastructure and development projects increased by a fourth to 350 billion rubles. The Bank extended funds to finance the construction of the Boguchan hydroelectric power station, the Urengoy power station, a new passenger terminal in the Vladivostok international airport, the construction of such ice-class tankers as Kirill Lavrov and Mikhail Uljanov and many other projects.

The Bank’s portfolio of loans aimed at supporting the export of Russian high-technology products increased almost to 60 billion rubles. VEB earmarked up to 250 billion rubles for developing mortgage lending including refinancing of housing credits. VEB’s participation in these programs ought to secure a trend towards reducing rates on mortgage credits and expanding mortgage lending in our country as a whole.

As of January 1, 2011, the amount of VEB’s funds allocated through its subsidiary banks to implement programs of supporting small and medium-sized enterprises that I have already mentioned was about 50 billion rubles. I would like you to go ahead with giving high priority to these issues. I’d like to remind you that we are seeking to increase Vnesheconombank’s financial support for small and medium-sized enterprises to 250 billion rubles by the year 2015.

In general, I would like to thank VEB’s entire team for their active efforts last year. In my opinion, the Bank achieved positive results, enhanced its standing as a key development institution in Russia. And its net profit amounted to 28 billion rubles in 2010.

And now I’d like to say a few words about our immediate tasks.

Vnesheconombank has already gained good experience in the regions and we should step up our efforts at the regional level. In order to fund projects in the Northern Caucasus, VEB founded the Northern Caucasus Development Corporation in November of 2010. The Corporation is already selecting potential facilities and programs for financing.

Today, we are to approve a decision to open a credit line to finance the construction of the Arkhyz alpine resort in Karachaevo-Cherkessia. The project provides for the construction of a world-class tourist cluster with modern infrastructure that can host up to 25,000 guests at any one time. We plan to set up a total of six tourist recreational zones in the Northern Caucasus and in the South of Russia. Almost 60 billion rubles are to be allocated from the federal budget to set them up. These facilities are located in Karachaevo-Cherkessia, the Krasnodar Territory and the Republic of Adygea, North Ossetia and Dagestan. I’d like to note that despite considerable funds that we allocate to finance the projects related to the 2014 Sochi Olympics we should not neglect other federal constituent entities as well as for example alpine tourist clusters on the South of our country. Considerable sums of money are allocated for these projects and I believe that it would invigorate the situation in the region, create new jobs and help to boost regional budgetary self-sufficiency.

Undoubtedly, these are complicated, multipurpose projects. We’ll have to address a lot of problems while implementing them. But we are sure that these initiatives would bring tangible results, create new jobs and improve the socio-economic situation in the region as a whole. By the way, our foreign partners are showing more interest in such projects. Have you heard that a joint Russian-French joint venture is being set up to develop the Northern Cau- casian tourist cluster?

Today, we are also to make a decision on establishing the Far Eastern and Baikal Regions Development Fund. As was agreed before, this Fund is going to be Vnesheconombank’s subsidiary company with its headquarters in Khabarovsk I’d like to stress that the Fund is designed not only to implement investment projects but also provide information and image support for the Far Eastern territories to position them as attractive markets for both Russian and foreign investments. This means that the Fund is supposed to be the region’s full-fledged development institution.

I expect that VEB’s prestige will make it possible to engage large Russian and foreign banks and investment companies. Until 2015, at least 70 billion rubles will be allocated to implement the Fund’s projects and the first 5 billion might be allocated as early as this year.

And finally, strenuous efforts are being made now to establish a Strategic Initiatives Agency. The projects submitted to the Bank are currently being discussed by its experts. Final results of the competition to fill the vacancies of the Agency’s Director General and directors responsible for three lines of activity will be soon announced as we agreed before. I think that Vnesheconombank should take an active part in the Agency’s activity and provide it with full support including financial assistance with regard, of course, to those projects that are of interest to the Bank. VEB has already made a decision to grant 100 million rubles to the Agency for it to make necessary arrangements to start its activity. Let’s consider other mechanisms for promoting projects being offered that will be selected and win tenders.

Origin: Internet Portal of the Russian Government


On the Decisions Made By Vnesheconombank’s Supervisory Board


VEB’s Supervisory Board Gives its Approval for Financing the Construction of the Arkhyz Alpine Resort in Karachaevo-Cherkessia

Moscow. July 14. INTERFAX-AFI – Vnesheconombank’s Supervisory Board gave its approval for providing 5 billion rubles for the construction of the first stage of the Arkhyz alpine resort in Karachaevo-Cherkessia, Vnesheconombank Chairman Vladimir Dmitriev told journalists after the Supervisory Board meeting.

“We have discussed the project today and made a positive decision”, he said speaking about funding this project.

V.Dmitriev noted that despite considerable funds are allocated to finance the Olympic facilities other projects should not be ignored.

On Wednesday, VEB’s Supervisory Board also approved a list of Olympic facilities that are funded in line with the decisions taken by VEB’s Supervisory Board in 2009.

V.Dmitriev reminded that at that time a decision was made to fund projects in the ratio of 70% to 30%, that is, Vnesheconombank was responsible for allocating a greater part of funds.

V.Dmitriev added that as to projects that carry increased risk and heavy burdens on investors the said ratio is 90% to 10%, that is, Vnesheconombank is responsible for providing a substantially greater part of funds. Vnesheconombank’s Chairman reminded that the interest rate on credits for these projects is equal to refinancing rate plus 0.4-1.4 of percentage point.

According to V.Dmitriev, the total amount of financing 17 Olympic facilities is 150 billion rubles.

Moreover, on Wednesday VEB’s Supervisory Board considered an issue of VEB’s participation in the financial rehabilitation of Amurmetall and Tractornye Zavody Concern. VEB’s Supervisory Board approved further steps to improve these companies’ activities.

VEB’s Supervisory Board also approved a concept to develop VEB’s Ukrainian subsidiary bank – Prominvestbank.


VEB to Provide 500 Million Rubles to Set Up the Far Eastern and Baikal Regions Development Fund

MOSCOW, July 14. /PRIME/. Vnesheconombank is to provide 500 million rubles to set up the Far Eastern and Baikal Regions Development Fund. Vnesheconombank Chairman Vladimir Dmitriev told journalists about it the day before.

According to him, on Wednesday, VEB’s Supervisory Board made a decision to set up the Fund. It will be VEB’s subsidiary company headquartered in Khabarovsk.

V.Dmitriev said that the Fund would be responsible for working out projects from a concept stage to a stage transparent to investors. And Vnesheconombank is ready to participate in funding projects in the amount of no more than 20 percent of their value. The remaining funds are to be made available by a project’s initiator in the form of its own and borrowed funds, with its own fund being no less than 20 percent of a total investment amount.

“We expect that in 2011 – 2015 VEB’s participation share in financing project might reach up to 70 billion rubles”, said V.Dmitriev.

Vnesheconombank’s Chairman also said that VEB’s Supervisory Board approved the procedure for considering and financing a pre – investment stage of the Skolkovo Fund residents’ investment projects.

V.Dmitriev also said that VEB’s Supervisory Board had given its approval to provide the Strategic Initiatives Agency with a grant worth 100 million rubles for it to be able to start its activity. He also said that a special subdivision was to be set up within Vnesheconombank to coordinate efforts with the Agency to select and fund projects.

Moreover, the Bank’s Supervisory Board approved a concept of developing VEB’s Ukrainian subsidiary bank – Prominvestbank. According to V.Dmitriev, the subsidiary bank would focus on working with companies that form an integral part of cooperation ties between Russia and Ukraine. He explained that he meant companies operating in the power and transport and nuclear power engineering industries as well as in the aircraft and engine construction sectors




Состоялось очередное заседание наблюдательного совета Внешэкономбанка

Вступительное слово В.В.Путина:

Добрый вечер, уважаемые коллеги!

У нас с вами сегодня большая, насыщенная повестка дня. Предстоит утвердить годовой отчёт Внешэкономбанка за 2010 год, а также рассмотреть ряд крупных проектов, в финансировании которых банк принимает участие.

Отмечу, что в прошлом году произошло изменение акцентов в работе Внешэкономбанка. Общая стабилизация экономики, начало посткризисного роста – всё это позволило переключиться с экстренных мер поддержки отраслей и отдельных предприятий на решение долгосрочных задач. Имею в виду прежде всего программы, направленные на модернизацию предприятий, качественное обновление инфраструктуры и, конечно, поддержку малого и среднего бизнеса.

В прошлом году общий объём ресурсов, выделенных Внешэкономбанком на технологические и инфраструктурные проекты, проекты развития, вырос практически на четверть и составил порядка 350 млрд рублей. В том числе были профинансированы возведение Богучанской ГЭС и Уренгойской ГРЭС, нового пассажирского терминала в международном аэропорту Владивостока, строительство танкеров ледового класса – «Кирилл Лавров», «Михаил Ульянов» и многие другие проекты.

Практически до 60 млрд рублей вырос портфель кредитов, направленных на поддержку экспорта отечественной высокотехнологичной продукции. На развитие ипотеки, включая рефинансирование жилищных кредитов, ВЭБ зарезервировал до 250 млрд рублей. Участие ВЭБа в этих программах должно обеспечить тренд на дальнейшее снижение ставок по ипотечным кредитам, общий рост ипотечного кредитования в нашей стране.

На 1 января 2011 года объём средств ВЭБа, направленных через дочерние структуры на реализацию программ поддержки малого и среднего бизнеса, о котором я уже говорил, составил порядка 50 млрд рублей. Я прошу и впредь относиться к этим вопросам с повышенным вниманием. Напомню, мы ставим задачу, чтобы к 2015 году довести объём финансовой поддержки малого и среднего бизнеса со стороны Банка развития до 250 млрд рублей.

В целом хотел бы поблагодарить всю команду ВЭБа за активную работу в прошлом году. Считаю, что банк добился вполне удовлетворительных результатов, укрепил свои позиции как ключевой институт развития в России. При этом его чистая прибыль по итогам 2010 года составила 28 млрд рублей.

Теперь несколько слов о наших ближайших задачах.

Внешэкономбанк уже имеет хороший опыт в регионах, и нужно наращивать эти усилия на региональном направлении. Специально для финансирования проектов на Северном Кавказе в ноябре 2010 года ВЭБом учреждена Корпорация развития Северного Кавказа. Она уже ведёт отбор потенциальных объектов и программ для финансирования.

Сегодня нам предстоит одобрить решение по открытию кредитной линии на строительство первой очереди горного курорта «Архыз» в Карачаево-Черкесии. В рамках проекта будет создан туристический кластер мирового уровня с современной инфраструктурой, способный принять единовременно до 25 тыс. человек. А всего мы планируем сформировать шесть туристско-рекреационных экономических зон на Северном Кавказе и на юге России. На их обустройство из федерального бюджета выделяется порядка 60 млрд рублей. Это объекты в Карачаево-Черкесии, Краснодарском крае, Республике Адыгея, Кабардино-Балкарии, Северной Осетии и Дагестане. Обращаю ваше внимание, что, несмотря на весьма серьёзные, значительные средства, которые мы выделяем на проекты, связанные с подготовкой к сочинской Олимпиаде в 2014 году, мы не должны забывать, не забываем и не будем забывать о других субъектах Федерации, других направлениях, в частности, о горно-туристических кластерах на юге страны вообще. Это приличные деньги, и я очень рассчитываю на то, что это оживит ситуацию в регионе, создаст новые дополнительные рабочие места, будет способствовать повышению самодостаточности бюджетов, будет улучшать бюджетную обеспеченность регионов.

Конечно, это сложные, комплексные проекты. В ходе работы потребуется решить много проблем. Но мы уверены, что эти инициативы принесут отдачу, позволят создать, как я уже сказал, и новые рабочие места, и в целом улучшить социально-экономическую ситуацию в регионе. Кстати говоря, и иностранные партнёры проявляют всё больше и больше внимания к проектам подобного рода. Вы знаете, что создаётся совместное российско-французское предприятие по развитию северокавказского туристического кластера.

Сегодня мы также должны принять решение по учреждению Фонда развития Дальнего Востока и Байкальского региона. Как и договорились, это будет дочерняя компания Внешэкономбанка, причём со штаб-квартирой в Хабаровске. Хотел бы подчеркнуть: фонд должен не только обеспечить реализацию инвестиционных проектов, но и взять на себя информационную, имиджевую поддержку дальневосточных территорий, их продвижение как перспективной площадки для вложения капиталов - как российских, так и зарубежных. То есть это должен быть полноценный институт развития для региона.

Рассчитываю, что авторитет ВЭБа позволит также привлечь к работе крупные российские и иностранные банки и инвесткомпании. До 2015 года объём финансирования проектов по линии фонда составит не менее 70 млрд рублей, причём первые 5 млрд могут быть выделены уже в текущем году.

И наконец, в завершение. Сейчас активно продвигается работа по созданию Агентства стратегических инициатив. Поступившие проекты проходят сегодня экспертное обсуждение. Скоро будут подведены окончательные итоги конкурса на замещение должностей генерального директора агентства и директоров по трём направлениям, как мы договаривались. Я считаю, что Внешэкономбанк должен активно подключиться к этой работе, к работе агентства, и прошу вас оказать ему всяческое содействие, в том числе и финансовую поддержку, разумеется, по приемлемым для банка проектам. ВЭБ уже принял решение предоставить агентству 100 млн рублей в виде безвозмездной помощи для разворачивания работы. Давайте подумаем о других механизмах поддержки, уже, по сути, для продвижения предлагаемых проектов, которые пройдут соответствующий отбор и выиграют на конкурсах.


Источник: Интернет-портал Правительства Российской Федерации


О решениях Наблюдательного совета Внешэкономбанка


Набсовет ВЭБа одобрил финансирование строительства горного курорта "Архыз" в Карачаево-Черкесии

Москва. 14 июля. ИНТЕРФАКС-АФИ - Наблюдательный совет Внешэкономбанка одобрил предоставление 5 млрд рублей на строительство первого пускового комплекса горного курорта "Архыз" в Карачаево-Черкесской республике, сообщил журналистам по итогам заседания набсовета глава ВЭБа Владимир Дмитриев.

"Мы сегодня обсудили и приняли положительное решение", - отметил он, говоря о финансировании этого проекта.

В.Дмитриев отметил, что, несмотря на большой объем финансирования олимпийских объектов, не стоит забывать и о развитии других проектов.

Набсовет ВЭба в среду также утвердил перечень олимпийских проектов, которые финансируются на базе основных положений, одобренных набсоветом ВЭБа еще в 2009 году.

В.Дмитриев напомнил, что тогда было принято решение о финансировании проектов в пропорции 70% на 30%, то есть большую часть финансирования должен был предоставлять Внешэкономбанк.

Глава ВЭБа добавил, что по ряду проектов, где наблюдается сильная нагрузка на инвестора и повышенные риски, это соотношение составляет 90% на 10%, то есть основные средства предоставляет ВЭБ. Глава госкорпорации напомнил, что ставка по кредитам на эти проекты равна ставке рефинансирования плюс 0,4-1,4 процентного пункта.

По словам В.Дмитриева, общий объем финансирования 17 олимпийских проектов составляет свыше 150 млрд рублей.

Кроме того, набсовет ВЭБа в среду рассмотрел вопрос об участии ВЭБа в финансовом оздоровлении "Амурметалла" и концерна "Тракторные заводы". "Были утверждены дальнейшие шаги по совершенствованию работы этих предприятий", - сказал глава ВЭБа.

Набсовет также утвердил концепцию развития украинского дочернего банка ВЭБа - Проминвестбанка.


ВЭБ выделит 500 млн руб на запуск Фонда развития Дальнего Востока и Байкальского региона

МОСКВА, 14 июля. /ПРАЙМ/. Внешэкономбанк выделит 500 млн руб на запуск работы Фонда развития Дальнего Востока и Байкальского региона. Об этом накануне сообщил журналистам председатель Внешэкономбанка Владимир Дмитриев.

По его словам, в среду Наблюдательный совет банка принял решение о создании Фонда. Он будет дочерней компанией ВЭБа со штаб-квартирой в Хабаровске.

В.Дмитриев сообщил, что Фонд будет заниматься проработкой проектов "со стадии идеи до стадии, понятной инвесторам". При этом Внешэкономбанк сам готов участвовать в финансировании проектов в объеме не более 20 проц стоимости. Остальное должны составить собственные и заемные средства инициатора проекта, причем, собственные средства должны составлять не менее 20 проц общего объема инвестиций.

"Мы рассчитываем, что в 2011-15 гг объем участия ВЭБа в финансировании проектов может составить до 70 млрд руб", - сказал В.Дмитриев.

Председатель Внешэкономбанка также сообщил, что Наблюдательный совет утвердил порядок рассмотрения и финансирования прединвестиционной стадии инвестпроектов резидентов Фонда "Сколково".

Также В.Дмитриев сообщил, что Наблюдательный совет одобрил выделение безвозмездной помощи Агентству стратегических инициатив в объеме 100 млн руб, чтобы Агентство могло начать свою деятельность. Он сообщил, что в структуре Внешэкономбанка будет создано специальное подразделение, которое будет координировать работу с Агентством по отбору и финансированию проектов.

Кроме того, Наблюдательный совет утвердил концепцию развития украинской "дочки" ВЭБа - Проминвестбанка. По словам В.Дмитриева, основной акцент в деятельности "дочки" будет сделан на работу с предприятиями, являющимися составной частью кооперационных связей России и Украины. Он пояснил, что речь идет о предприятиях энергетического и транспортного машиностроения, атомной энергетики, самолето- и двигателестроения.


Vnesheconombank’s supervisory board regular meeting held

V.V. Putin’s opening address

Good afternoon esteemed colleagues.

Let’s remember once again about what we spoke in our report at the State Duma. As you know we spoke about large-scale development programs in the regions, various production sectors, the housing market, the industrial sector, infrastructure, modernization and launching of large-scale projects.

It’s quite evident that Vnesheconombank is supposed to play a key role in implementing all these plans acting as our leading development institution and consulting center and using its credit resources.

We also expect Russia’s Export Credit and Investment Insurance Agency to work effectively. I’d like to remind you that this Agency is being established in the form of a joint stock company with Vnesheconombank’s 100-percent participation. This new agency is designed to assist our exporters in tapping international markets and we should above all support exporters that operate in innovation sectors. The Government considered, prepared and submitted appropriate amendments to legislation to the State Duma.

At the same time, we have to address all organizational issues associated with the operation of the Russian Export Credit and Investment Insurance Agency and prepare a definitive strategy of its activity.

We have also to create additional instruments to raise capital for the Russian economy. It is for this purpose a Russian Fund of Direct Investments is being set up. We should discuss today an issue of establishing a special managing company for this Fund. The Fund will be responsible for raising foreign long-term investments for the Russian economy intended above all for such high-technology sectors (here I mean innovation projects) as power engineering, oil sector, space exploration, pharmaceutics and etc. The Fund’s managing company with a charter capital of 300 million rubles is to be founded by Vnesheconombank. And in its operation the Fund will be able to rely on Vnesheconombank’s financial and expert potential. In my opinion, this approach is bound to establish the Fund’s credibility with the international investment community and create favorable conditions for its start and further operation.

Besides these systems issues, we’ll also discuss a number of other purely production issues and among them I’d like to single out the one of a credit line worth 39 billion rubles intended for creating a joint venture between Ford and our Russian company Sollers that has been operating in the automotive industry for several years. This is a young company but it has been operating for several years and has shown itself to a good advantage. At our request, the company is expanding its production including as we know in the Far East.

I believe that the project in point is a very interesting, much needed initiative. The partnership between Russia’s company Sollers and Ford would make it possible to attract new technologies, significantly increase production facilities of the companies already operating successfully in various regions of the Russian Federation, for example in Tatarstan (the city of Elabuga) and in the Leningrad region. The credit resources we are to make available today will be used to increase production localization. This is fully in line with requirements the Russian Government formulates for our foreign partners. The money is to be used to set up the production of component base on the territory of our country. Suffice it to say that in the future the level of localization at Ford-Sollers joint venture is supposed to reach 60%.

The launch of such a large-scale project is especially important today against the backdrop of the Russian auto market growth. In the first quarter of this year the output of cars in our country increased by 2.2 times. And I’d also like to remind you that we made a decision to additionally fund the car utilization program. All these factors form a good basis for the launch of this new large-scale project.

Let’s get down to work.

Origin: Internet Portal of the Government of the Russian Federation


On Vnesheconombank’s Supervisory Board Decisions


VEB to start funding the construction of the Olympic Village

Novo-Ogarevo. April 22. INTERFAX – Vnesheconombank is to provide credit resources to fund the construction of the Olympic Village in Sochi, said Vnesheconombank Chairman Vladimir Dmitriev.

He reminded journalists on Friday that a credit line worth about 2 billion rubles to fund this project had already been opened. The funds are intended for performing pre-project work.

“Besides the money we have already provided under the last year’s decision the total amount is 15.5 billion rubles and at our today’s Supervisory Board meeting we made a decision to allocate 3 billion rubles so that we could start full-scale financing after agreeing upon security documents”, said V. Dmitriev after Vnesheconombank’s Supervisory Board meeting on Friday.

According to him the credit is to be extended at a refinancing rate of plus 0.4-1.4%.


Total budget of Ford-Sollers JV project to amount to 75 billion rubles. VEB to allocate 39 billion rubles

NOVO-OGAREVO, April 22 – RIA Novosti. Vnesheconombank is to extend a credit to establish a Ford-Sollers Joint Venture for an amount of 39 billion rubles for a period of 10 years at a refinancing rate of plus 2%, the project’s total budget is 75 billion rubles, Vnesheconombank Chairman Vladimir Dmitriev told journalists after Vnesheconombank’s Supervisory Board meeting.

“The funding provides for building several production facilities in three cities – Naberezhnye Chelny, Elabuga, Vsevolzhsk”, said Dmitriev.

He said that the parties’ participation share in the project to establish a Ford-Sollers Joint Venture is 50 to 50. And the property contribution of both parties is 18 billion rubles.

According to Dmitriev, the project’s implementation will result in building production facilities for manufacturing 350 thousand automobiles per year. Mr. Dmitriev also noted that a domestic competence would be created in engine-building.

VEB’s Chairman said that the project’s implementation would result in forming our own scientific-technical base in Tatarstan. He also stressed that in the course of the project’s implementation budgets of various levels would receive about 39 billion rubles and 3 thousand new jobs would be created.

According to him, in the near future Vnesheconombank intends to sign a memorandum with the project’s participants. The memorandum is to specify investment terms. He noted that the project’s details are being thoroughly studied. Dmitriev said that after completing the preparation of documents, “we would submit finalized financial terms of funding this project to Vnesheconombank’s Supervisory Board”.

Dmitriev also said that this credit should be extended at the most favorable interest rate. “Now we are discussing a refinancing rate of plus 2%”, said Vnesheconombank’s Chairman.

It became known in mid February that the Russian automaker and Italian Concern Fiat terminated their negotiations about establishing a joint venture which could have become the second largest player after AvtoVAZ on the Russian car market. The companies signed a memorandum on establishing a joint venture a year ago and at the beginning of July Sollers submitted an application to VEB for arranging a syndicated loan worth 2.1 billion euros to fund the project. Later on, the parties decided that they would implement their long-term strategies individually.

At the same time, Sollers was not left without a partner, on the same day the company announced the establishment of a joint venture in equal shares with Ford to manufacture and distribute Ford cars on the Russian market.


VEB’s Supervisory Board accepts founding documents from a managing company of a Direct Investments Fund

NOVO-OGAREVO, April 22 – RIA-Novosti. Vnesheconombank’s Supervisory Board accepted founding documents of a managing company of a Sovereign Direct Investments Fund, Vnesheconombank Vladimir Dmitriev told journalists after Vnesheconombank’s Supervisory Board meeting.

“Today we have discussed an issue of establishing a Direct Investments Fund and most importantly, a managing company of this Fund. This managing company is a legal entity - a limited liability company. On the whole, we accepted this institution’s founding documents but they will require some fine tuning”, Mr. Dmitriev told journalists adding that this would be done until this June.

Answering a question about who might be in charge of this institution, Mr. Dmitriev said that they had discussed worthy candidates known to the market.

“I think that in the most immediate future a surname of the managing company’s head will be made public”, said VEB’s Chairman.

A Fund of Direct Investments is scheduled to be established in the form of a closed mutual investment fund. This will be VEB’s 100-percent subsidiary company and its charter capital is to be formed through using federal budgetary funds. Its target amount is to be 10 billion dollars. Russian President Dmitry Medvedev announced an initiative to establish such a fund at the World Economic Forum in Davos.

The Fund will be responsible for raising long-term investments for the Russian economy, above all, for high-technology sectors and innovation projects in such industries as power engineering, the gas sector, pharmaceutics and space exploration.


Состоялось очередное заседание наблюдательного совета Внешэкономбанка

Вступительное слово В.В.Путина:

Здравствуйте, уважаемые коллеги!

Ещё раз вспомним о том, о чём говорили с вами на отчёте в Государственной Думе. Речь шла, как вы помните, о масштабных программах развития в регионах, в различных отраслях производства, на жилищном рынке, в промышленности, инфраструктуре и так далее, и так далее. О модернизации и запуске крупномасштабных проектов.

Очевидно, что большую роль при реализации всех этих планов призван сыграть и Внешэкономбанк как наш ведущий институт развития – и за счёт своих кредитных ресурсов, и как консультационных центр.

В том числе мы ждём активной работы от Российского агентства по страхованию экспортных кредитов и инвестиций. Напомню, оно создаётся в виде акционерного общества со 100-процентным участием Внешэкономбанка. Новая структура призвана помочь нашим экспортёрам осваивать международные рынки, завоёвывать новые площадки и прежде всего, конечно, мы должны поддержать тех экспортёров, которые работают в инновационных отраслях. Необходимые поправки в законодательство Правительство рассмотрело, подготовило и внесло в Государственную Думу.

Параллельно нужно решать все организационные вопросы, связанные с началом работы Российского агентства по страхованию экспортных кредитов и инвестиций, в том числе подготовить предметную стратегию его деятельности.

Дополнительные инструменты должны появиться у нас и для привлечения капиталов в российскую экономику из-за рубежа. Именно для этого создаётся такой институт развития, как Российский фонд прямых инвестиций (РФПИ). Сегодня мы как раз должны рассмотреть вопрос о специальной управляющей компании этого фонда. РФПИ займётся привлечением долгосрочных иностранных инвестиций в российскую экономику, в первую очередь так же в высокотехнологичных сферах (имеются в виду инновационные проекты), в энергетике, нефтегазовой сфере, освоении космоса, фармацевтике и так далее, и тому подобное. Управляющую компанию фонда с уставным капиталом в 300 млн рублей учредит Внешэкономбанк. И в своей работе эта структура сможет опираться на финансовый и опять же экспертный потенциал ВЭБа. Считаю, что такой подход обеспечит необходимый авторитет фонда в международном инвестиционном сообществе, создаст хорошие условия для старта и последующей работы.

Кроме этих системных вопросов, мы с вами рассмотрим ряд других, чисто производственных вопросов, вопросов производственного характера, и среди них я выделил бы один. Речь идёт о кредитной линии в размере 39 млрд рублей на создание совместного предприятия «Форд» и отечественной, российской компании «Соллерс», которая работает, как известно в автомобильной промышленности, работает уже не первый год. Это молодая компания, но работает не первый год и зарекомендовала себя положительно. По нашей просьбе разворачивает производство, в том числе, как мы знаем, и на Дальнем Востоке.

Считаю, что проект, о котором идёт речь сегодня, – это интересная, востребованная инициатива. Партнёрство российской компании «Соллерс» и «Форда» позволит привлечь в отечественный автопром новые технологии, значительно нарастить мощности уже успешно работающих предприятий в различных регионах Российской Федерации: в Татарстане (например, в Елабуге) и в Ленинградской области. Кредитные ресурсы, которые мы сегодня должны будем предоставить, будут направлены на повышение локализации производства. Это в полной мере отвечает тем требованиям, которые Правительство Российской Федерации формулирует для наших иностранных партнёров. Деньги пойдут на организацию выпуска компонентной базы на территории нашей страны. И достаточно сказать, что в перспективе уровень локализации на совместном предприятии «Форд-Соллерс» должен достичь 60%.

Старт такого крупного проекта особенно актуален сейчас, на фоне роста, на подъёме российского автомобильного рынка. В I квартале текущего года производство легковых автомобилей увеличилось у нас в стране в 2,2 раза. Кроме того, напомню, мы с вами приняли решение о дополнительном финансировании программы утилизации легковых автомобилей. Всё это создаёт такой хороший фон для старта нового большого проекта.

Давайте начнём работать.


Источник: Интернет-портал Правительства Российской Федерации


О решениях Наблюдательного совета Внешэкономбанка


ВЭБ откроет финансирование строительства Олимпийской деревни

Ново-Огарево. 22 апреля. ИНТЕРФАКС - Внешэкономбанк прокредитует строительство Олимпийской деревни в Сочи, заявил глава банка Владимир Дмитриев.

В пятницу он напомнил журналистам, что по этому проекту была уже выделена кредитная линия порядка 2 млрд рублей. Средства предназначались на выполнение предпроектных работ.

"Помимо тех денег, которые мы предоставили, в соответствии с прошлогодним решением общий объем составляет 15,5 млрд рублей и на нынешнем наблюдательном совете принято решение о выделении 3 млрд рублей с тем, чтобы после согласования обеспечительной документации открыть полноценное финансирование", - сказал В.Дмитриев по итогам заседания наблюдательного совета в пятницу.

Кредит выдается, по его словам, под ставку рефинансирования плюс 0,4-1,4%.


Общий бюджет проекта СП "Ford-Соллерс" составит 75 млрд руб, ВЭБ выделит 39 млрд руб

НОВО-ОГАРЕВО, 22 апр - РИА Новости. Внешэкономбанк предоставит кредит на создание СП "Ford-Соллерс" на сумму 39 миллиардов рублей сроком на 10 лет по ставке - ставка рефинансирования плюс 2%, общий бюджет проекта составляет 75 миллиардов рублей, сообщил журналистам глава ВЭБ Владимир Дмитриев по итогам заседания набсовета госкорпорации.

"Финансирование предусматривает строительство нескольких производств, на трех площадках - Набережные Челны, Елабуга и Всеволжск", - сказал Дмитриев.

Он сообщил, что доля сторон в проекте по созданию СП "Ford-Соллерс" составляет 50 на 50. При этом имущественный взнос обеих сторон составляет 18 миллиардов рублей.

По словам Дмитриева, в результате реализации проекта будут созданы мощности для производства 350 тысяч автомобилей в год. Кроме того, как отметил Дмитриев, "будет создана внутренняя компетенция по двигателестроению".

Глава ВЭБа сообщил, что в рамках проекта также будет "создана своя научно-техническая база в Татарстане". Он добавил, что "в ходе реализации проекта бюджеты разных уровней получат около 39 миллиардов рублей, будет создано около 3 тысяч новых рабочих мест".

По его словам, Внешэкономбанк намерен в ближайшее время подписать меморандум с участниками проекта, где будут отражены инвестиционные условия. Он отметил, что детали проекта в настоящее время продолжают прорабатываться. Как заявил Дмитриев, после того, как проработка документов будет завершена, "мы представим на наблюдательный совет уже окончательно сформированные финансовые условия кредитования этого инвестиционного проекта".

При этом Дмитриев сказал, что ставка по предоставляемому кредиту "должна быть максимально привлекательной". "Сейчас рассматриваем вопрос по ставке рефинансирования плюс 2%", - добавил руководитель госкорпорации.

В середине февраля стало известно, что российский автопроизводитель и итальянский концерн Fiat прекратили переговоры о создании совместного предприятия, которое обещало стать вторым по величине после "АвтоВАЗа" игроком на российском рынке легковых автомобилей. Меморандум о создании СП компании подписали год назад, а в начале июля Sollers подал в ВЭБ заявку по организации синдицированного кредита на 2,1 миллиарда евро для финансирования проекта. Потом стороны решили, что дальнейшую реализацию своих долгосрочных стратегий они будут осуществлять самостоятельно.

При этом "Соллерс" без партнера не остался - в тот же день компания объявила о создании с Ford совместного предприятия в равных долях по производству и дистрибуции автомобилей Ford на российском рынке.


Набсовет ВЭБа принял учредительные документы УК фонда прямых инвестиций - Дмитриев.

НОВО-ОГАРЕВО, 22 апр - РИА Новости. Наблюдательный совет Внешэкономбанка принял учредительные документы управляющей компании суверенного фонда прямых инвестиций, сообщил журналистам по итогам заседания совета глава госкорпорации Владимир Дмитриев.

"Сегодня мы обсуждали тему создания российского Фонда прямых инвестиций, и самое главное - управляющей компании как юридического лица - это общество с ограниченной ответственностью, мы в целом приняли учредительные документы этого института, но они потребуют в дальнейшем некоего fine tuning", - сказал Дмитриев журналистам, добавив, что это будет сделано, как предполагается, до июня текущего года.

Отвечая на вопрос о том, кто может возглавить эту структуру, Дмитриев отметил, что было проведено изучение "достойных кандидатов, известных рынку".

"Я думаю, что в ближайшее время фамилия руководителя управляющей компании будет известна",- сказал глава ВЭБ.

Фонд прямых инвестиций планируется создать в форме закрытого паевого инвестиционного фонда. Это будет 100-процентное дочернее предприятие ВЭБа, капитал которого сформируют за счет средств федерального бюджета. Целевой объем суверенного фонда составит 10 миллиардов долларов. С инициативой его создания президент РФ Дмитрий Медведев выступил в январе на Всемирном экономическом форуме в Давосе.

Фонд займется привлечением долгосрочных иностранных инвестиций в российскую экономику, в первую очередь, в высокотехнологичные сферы и инновационные проекты в таких отраслях, как энергетика, газовая сфера, фармацевтика и освоение космоса.


Внешэкономбанк пожертвует 90 млн рублей на подготовку к проведению в России Чемпионата мира по футболу в 2018 году

НОВО-ОГАРЕВО, 22 апреля. /ИТАР-ТАСС/. Внешэкономбанк пожертвует 90 млн рублей на подготовку к проведению в России Чемпионата мира по футболу в 2018 году. Об этом заявил сегодня председатель ВЭБа Владимир Дмитриев после заседания Набсовета банка.

"Мы рассмотрели и приняли решение о выделении 90 млн рублей фонду "Россия-2018". Речь идет о благотворительной помощи на проведение Чемпионата мира по футболу в России", - сказал он.


Vnesheconombank’s supervisory board regular meeting held

V.V. Putin’s opening address

Good afternoon esteemed colleagues.

We are holding the first meeting of Vnesheconombank Supervisory Board this year. Today we’ll discuss the Bank’s plans and long-term objectives. In the period of the crisis Vnesheconombank played a very important role in supporting key economic sectors such as the banking system, the real economy and participated in the programs of rehabilitating enterprises and credit institutions. In fact, VEB became an efficient anti-crisis-financial management center. Nevertheless, as the situation was stabilizing in 2010, we started to shift priorities by placing more emphasis on long-term development goals, large-scale investment projects aimed at modernization, technical retooling and providing support for small and medium-sized enterprises. It is these lines of activity that should become key priorities this year The Bank’s loan portfolio is scheduled to be increased by 100 billion rubles. These financial resources will be used to fund large-scale investment projects and we’ll discuss a number of these projects today.

Another 10 billion rubles are to be used to support small and medium-sized enterprises. I’d like to remind you that we must bring the amount of financial support for small and medium-sized enterprises to 250 billion rubles. As you know this amount in 2010 was only 50 billion rubles. The mortgage lending development program should be up and running at full capacity. VEB earmarked about 200 billion rubles for these purposes including mortgage housing loans refinancing.

VEB’s participation must secure affordable interest rates on mortgage housing loans. The total amount of mortgage lending is bound to increase too. We expect the total amount of annual mortgage housing loans to reach the pre-crisis level of 650 billion rubles per year by 2012.

VEB must also give top priority to get its regional structures to operate effectively; here I mean the North Caucasus and the Far East. Their task is to be in close contact with investors. You know that the North Caucasus Development Corporation has already been established.  And we have to resolve all organizational issues on forming a Direct Investments Fund for the Far Eastern Federal District and the Baikal region before May 1, 2011. At present, Vnesheconombank is conducting expert examination of Far Eastern projects worth 88 billion rubles. I’m sure that all the plans mentioned will be implemented and VEB’s team will go on working on a traditionally high professional level.

In this connection, I’d like to note that in 2010 VEB received the prestigious Deal of the Year Award. Please, accept my congratulations!

The highest marks were given to the following three projects – the Khabarovsk refinery modernization, the construction of an advanced petrochemical complex in Tobolsk and Pulkovo airport reconstruction in Saint Petersburg. We’ll also discuss another several high technology projects today.

I’d like to place particular emphasis on several projects. Here I mean a $1.6 billion credit line for the construction of an ammonia, methanol and carbamide integrated plant in the Republic of Tatarstan. Upon implementing the project the most advanced resource saving and energy efficient technologies will be used; the project will minimize negative impact on the environment and introduce digital production control methods.

I’ d like to stress that the most part of manufactured products (these are nitrogenous fertilizers) will be in demand by our agricultural producers and granulated carbamide have good prospects for export to the CIS, Europe and Asian countries.

We have discussed this project at great length with Tatarstan’s leaders. The Republic’s leaders also attach considerable importance to this project and are deeply involved in this work this is an additional guarantee of this project’s success.

I’d like to draw your attention to one more issue. At the end of the last year we took a decision on Vnesheconombank’s participation in funding regional and urban communal services infrastructure development projects. We have to put in place public private partnership mechanisms for modernizing water and heat supply systems, municipal transport and other facilities. For these purposes VEB is to commit annually 2 billion rubles in the period of five years (2011, 2012, 2013, 2014, 2015).

As a result of their joint efforts Vnesheconombank ad Moscow’s Government have already made a list of investment projects in the transport infrastructure and the communal services system. The Bank plans to commit 900 million rubles in 2011 for these projects’ implementation.

And now I’d like to single out one more important project that involves shipbuilding. You know that we laid down a whole program to rebuild shipbuilding. New shipyards are being built in the Far East and in the North-West of Russia. The United Shipbuilding Company has already formed a good backlog of orders for more than 100 ships. At the same time and for quite apparent reasons our enterprises find it difficult to carve out a niche in the shipbuilding market after a pause of many years. And here there is a need for special government support measures. One of these measures is to be carried out by Vnesheconombank.  VEB is to extend payment reimbursement guarantees to ship customers. And this will give an additional competitive edge to our shipyards. Ship customers will be sure that the proper performance of contracts is backed by solid financial guarantees. Their total sum is to amount to 40 billion rubles.

Origin: Internet Portal of the Government of the Russian Federation


On Vnesheconombank’s Supervisory Board Decisions

VEB to allocate 900 million rubles in 2011 for PPP infrastructure projects in Moscow

Moscow. February 24. INTERFAX - Vnesheconombank’s Supervisory Board approved a list of investment projects in the transport infrastructure and the housing and communal services system in Moscow. In 2011, up to 900 million rubles are scheduled to be committed for pre-project work, said Vnesheconombank Chairman Vladimir Dmitriev after a meeting of Vnesheconombank’s Supervisory Board on Tuesday

“This year we are to allocate about 900 million rubles for pre-project work. Today we have made public a list of projects which might be funded on a PPP basis. We are going to implement these projects together with Moscow. Engineering companies are to be set up. Interested investors and Vnesheconombank will be among these companies’ participants and shareholders”, said V. Dmitriev.

At the same time he noted that because of these allocations Vnesheconombank would increase the total amount of limit to fund similar regional public private partnership (PPP) projects from 2 to 3 billion rubles in 2011.


VEB plans to generate net profit of a bit over 30 billion rubles in 2011

MOSCOW, February 24, - RIA Novosti. Vnesheconombank plans to generate net profit of a bit over 30 billion rubles under the Russian Accounting Standards (RAS) against 28.9 billion rubles in 2010, Vnesheconombank Chairman Vladimir Dmitriev told journalists on Tuesday.

“We plan to generate profit of a bit over 30 billion rubles’, said Dmitriev adding that he meant net profit in 2011.

In early January, VEB said that it increased its net profit in 2010 by 26.8% under the Russian Accounting Standards from 2009 to 28.901 billion rubles.

According to VEB, the Bank generated net profit of 22.79 billion rubles in 2009.

Main objectives of State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ established on the basis of Vnesheconombank of the USSR are to make the Russian economy more competitive, diversify it, encourage investment business by way of undertaking credit-investment, guaranty, insurance and consulting activities associated with implementing projects in Russia and abroad among other things, with the participation of foreign capital, as well as with providing support for Russian industrial exports and for small and medium-sized enterprises.


VEB to buy out bonds of the United Aircraft Construction Corporation worth 13.7 billion rubles

MOSCOW, February 23, (Reuters) – Russia’s Vnesheconombank is to buy out bonds of the United Aircraft Construction Corporation worth 13.7 rubles. The funds are to be used to refinance the Corporation’s credit, Vnesheconombank Chairman Vladimir Dmitriev told journalists on Tuesday evening.

In the first quarter of 2011, the United Aircraft Construction Corporation intends to issue 9-year bonds worth 46.28 billion rubles at a fixed coupon rate of 10 percent [ID:nMUE6B81BD]. The bond issue arrangers are Sberbank, VEB Capital and VTB Capital. The company announced that it would borrow money to repay its debt to large banks and as a result, its effective interest rate on debts will diminish to 6 percent from 10 percent.

By the end of 2010, the United Aircraft Construction Corporation’s consolidated debt was 147.6 billion rubles.

Vnesheconombank owns 11 percent of the Corporation’s shares, the state’s stake exceeds 80 percent and private investors own a bit more than 8 percent.

In December of 2009, the United Aircraft Construction Corporation placed an additional issue of shares worth 45.15 billion rubles in favor of the state and VEB in order to restructure its debt and finance investment projects. All in all the United Aircraft Construction Corporation placed three additional issues worth about 67 billion rubles, in the course of which the Russian Federation transferred government stakes of aircraft construction companies to the Corporation’s charter capital.

The United Aircraft Construction Corporation incorporates aircraft construction assets of the Russian Federation; it owns stakes of Sukhoi Holding Company, Research Production Association Irkut, the Nizhny Novgorod Aircraft Construction Plant Sokol, Ilyushin Finance Company, the Tupolev Company.


VEB’s Supervisory Board approved financing of the mineral fertilizers plant construction project in Tatarstan

MOSCOW, February 22, - RIA Novosti. At its meeting on Tuesday, Vnesheconombank’s Supervisory Board approved the Bank’s participation in funding the mineral fertilizers plant construction project in Tatarstan, Vnesheconombank Chairman Vladimir Dmitriev told journalists.

A trilateral agreement on building this first, in the past 20 years, large mineral fertilizers manufacturing plant on the Russian territory was signed in November of 2010 by Japan’s Mitsubishi Heavy Industries and Sojitz, the China National Engineering Co. (CNCEC) as well as Russia’s state-run company OJSC Ammonii founded by Tatarstan’s Government and VEB in 2006.

Dmitriev said that in the current year VEB would implement large-scale projects and one of them is the ammonia, methanol and carbamide manufacturing integrated plant construction project in Tatarstan.

He added that the project would be for the most part implemented with Japanese banks’ money. “We have agreed that the plant’s products would be for the most part sold on the Russian market”, said Vnesheconombank’s Chairman.

Russian Prime Minister Vladimir Putin, who chairs VEB’s Supervisory Board, said on Tuesday that the total amount of the credit line opened for funding the project was estimated at 1.6 billion dollars.

Under the project the plant is to be put in operation in 2015. The production facility’s capacity would make it possible to simultaneously manufacture ammonia and methanol from natural gas.

A new fertilizers plant is to be built in the city of Mendeleevsk (the Republic of Tatarstan). The city is located about a thousand kilometers to the east of Moscow. The plant is scheduled to manufacture 2.05 thousand metric tons of ammonia per day and 1.382 metric tons of ammonia and 668 metric tons of methanol upon simultaneous production.


VEB to hold a tender to select a managing company of the Traktornye Zavody Concern

Moscow. February 24. INTERFAX - VEB’s Supervisory Board made a decision to hold a tender to select a managing company of the Traktornye Zavody Concern, said VEB Chairman Vladimir Dmitriev after VEB’s Supervisory Board meeting.

He didn’t rule out that the company might be bought out by its former owners.

“A decision was made to hold a tender to select a managing company. In part, we accomplished our mission. We consolidated various isolated entities incorporated in the so called the Traktornye Zavody Concern and conducted financial and technological audit. This company should be managed professionally by highly qualified specialists who have positive experience in crisis management”, said V. Dmitriev.

He also noted that all could participate in a tender to select a managing company including former owners of the Traktornye Zavody Concern.

By the way, V. Dmitriev said that VEB was not so far going to sell the company as it had an option for its former owners who could buy it out”.

Besides, V. Dmitriev said that VEB would participate in the ammonia, methanol and carbamide manufacturing integrated plant construction project in the Republic of Tatarstan together with the republican investment fund.

At the same time, V. Dmitriev said that for the most part the project was to be financed by Japanese banks with the assistance of Japanese state-run institutions, he also added that  VEB jointly with the investment fund would have more than a controlling stake in the project.

On Tuesday, VEB’s Supervisory Board approved the extending of guarantees to Russian ship customers against payments to shipyards where appropriate vessels are to be built.

“The problem was that shipyards failed to secure guaranteed reimbursement of payments made for building vessels. Now Vnesheconombank is to assume this mission and we believe that we’ll be able to guarantee and secure an adequate volume of orders and our fleet will be provided with vessels it really needs”, said V. Dmitriev


Vnesheconombank is ready to participate in financing Sollers and Ford joint venture

MOSCOW, February 22. /ITAR-TASS/. Vnesheconombank is ready to participate in financing Soller and Ford joint venture, Vnesheconombank Chairman Vladimir Dmitriev told journalists about it. “We are ready”, he said.

Dmitriev made it clear that the Bank hadn’t so far entered into any agreements with this tandem. He added that as soon as the joint venture’s financial model became clear, VEB would be able to take a decision.

Last week, the Russian automaker Sollers announced its withdrawal from the agreement on establishing a joint venture with Fiat. Sollers also announced that instead of Fiat, Ford auto concern would be Sollers’ partner. The companies have already submitted an application for participating in a new mode of industrial auto assembly.


Vnesheconombank does not plan to purchase Alexander’s Lebedev’s stake in Ilyushin Finance Company

MOSCOW, February 22. /ITAR-TASS/. Vnesheconombank does not plan to purchase Alexander Lebedev’s stake in Ilyushin Finance Company. Vnesheconombank Chairman Vladimir Dmitriev told journalists about it today.

“An issue of buying out these shares is not on the agenda”, he said.

The National Reserve Corporation owned by Alexander Lebedev holds 8.65% of Ilyushin Finance’s shares. A buy-out of this asset was at issue as part of preparations for a public offering of Ilyushin Finance Company’s shares but the Company decided to determine its shareholding structure before conducting a public offering of shares.

Ilyushin Finance is incorporated in the United Aircraft Construction Corporation as a main sales unit of new civil Russian-aircraft. In particular, Ilyushin Finance Company leases out An-148 and MS-21 aircraft.



Vnesheconombank’s supervisory board regular meeting held

V.V. Putin’s opening address:

Esteemed colleagues,

Some of you attended the United Russia’s conference in Khabarovsk yesterday, where we discussed plans for the Far East. Specifically, we discussed Vnesheconombank’s and other development institutions’ involvement in implementing investment projects in the region.

There are many interesting business ideas for the Far East, in particular for its fuel and energy sector, steelmaking, forestry and fishing industries. As I have already said, we plan to establish a Direct Investments Fund in the Far Eastern Federal District and the Baikal Region.

VEB’s participation in this Fund will make it possible to engage major financial institutions, funds and investment companies in cooperation. Today, we’ll discuss the Fund’s concept and proposals for its organizational structure. I would also like to note that yesterday Vnesheconombank signed an agreement on extending a three billion ruble loan to Dallesprom for building a deep timber-processing integrated plant in the city of Amursk in the Khabarovsk Territory.

We’ll also consider another project that is critical for the Far East, the reconstruction of the Knevichi airport. This project will be implemented as part of preparations for the APEC summit and the program to remake the image of Vladivostok.

A new modern passenger terminal’s commissioning would increase the airport’s capacity to four million people per year. After reconstruction, the airport’s runway will be able to operate almost all types of aircraft, both Russian and international. Vnesheconombank’s investment in the project will total four billion rubles, of which it has already provided 2.3 billion rubles in loans.

Today we’ll also hear out a report on the progress the Bank has made on its mortgage lending program. I’d like to emphasize that the program began nearly a year ago, and Vnesheconombank has already extended more than 4,000 mortgage credits worth some seven billion rubles, which account for about 30% of the credits received by Russian citizens to buy new housing.

I’d like to stress that as we expected the average interest rate – stands at 11% per annum. Moreover, the banks that obtained VEB’s credits have cancelled commissions for issuing credits. There are mortgage credits extended at lower interest rates. For example, Sberbank extends mortgage credits for several categories of employees at 9.5% per annum. There are also higher interest rates of 11%, 12% and even a bit higher. But the average interest rate stands between 11% and 11.5% per annum across the country. These are the target figures we set for this year. Not bad for a start. We can expect the amount of loans to increase significantly in 2011.

There are also proposals to expand Vnesheconombank’s involvement in housing program for the Bank to encourages not only mortgage lending but also accomplish a task of increasing housing construction.

To this end, Vnesheconombank could lend to commercial banks for them to fund projects aimed at building affordable economy-class housing. As we agreed before, this investment is to amount to 50 billion rubles, and the funding source is to be Vnesheconombank’s profits from transactions in financial markets. I’d like to remind you that the Bank generated significant profits from the increased value of Russian companies’ shares, which it bought during the crisis. And it makes sense to invest these profits in implementing housing programs. Credits will be extended at only 3%, which will allow banks to reduce interest rates for end borrowers, that is, natural persons. VEB will soon begin to finance regional and municipal projects to upgrade utilities infrastructure. The Bank will use public-private partnership mechanisms to modernize water and heat supply systems, municipal transport and other facilities. The Bank will commit two billion rubles for these purposes annually. And one more point: this year Vnesheconombank has raised more than $5 billion for a period of up to 15 years in the international market. It is the first time that a Russian lending institution has raised funds on such favorable terms. The Bank has also successfully placed ruble-denominated bonds worth 25 billion rubles. This testifies to the increased trust in Russian banks and shows that Vnesheconombank’s team is comprised of real professionals.

Let’s start our discussion.

Origin: Internal Portal of the Government of the Russian Federation


Vnesheconombank’s supervisory board regular meeting held

V.V. Putin’s Opening Address

Esteemed colleagues,

Today, we are holding our regular meeting of Vnesheconombank’s Supervisory Board. Our today’s agenda includes a number of new investment projects as well as issues of systemic nature such as for example the creation of effective instruments for implementing socio-economic plans. Here I mean the plans to develop the Northern Caucasus. We set ourselves a number of objectives in the Strategy for the Northern Caucasus, the Northern-Caucasian Federal District. The main one is to secure the development of this Russian region. We have to address the issues of transport, power engineering, we also have to upgrade populated localities but the main thing is to create 400 thousand new jobs for a period of 10 years.

To this end, huge government and private funds worth tens and even hundreds of billions rubles should be invested in the Northern Caucasus. In order to accomplish objectives of such magnitude we have to use advanced management systems in the top-priority economic sectors. Today, we’ll discuss proposals on some key elements.

Here I mean the Northern Caucasus Development Corporation and a company “Resorts of the Northern Caucasus”. Vnesheconombank is to found both these business entities. And in their operation they will rely on the Bank’s financial and expert potential.

The Northern Caucasus Development Corporation is to be responsible for monitoring investment projects - from idea to practical implementation. It is this Corporation, which should be responsible for preparing all required documentation, agreeing it upon with regional, local and federal authorities as well as for helping to obtain credits in financial institutions. Moreover, the Corporation’s most important task is to train local personnel, specialists so that they will be able to work in the modern conditions and raise investments on their own.

The company “Resorts of the Northern Caucasus” is to be established in order to manage a unified tourist complex that is being formed in the region now. Here I mean such resorts as Arkhyz in Karachaevo-Cherkessia, Lagi-Naki in Adygeya, Mamison in North Ossetia, Matlas in Dagestan and Elbrus in Kabardino-Balkaria.

I’d like to highlight two more issues. Firstly, Vnesheconombank is planning to participate in implementing a project aimed at developing Russia supercomputers manufacturing technologies and promoting their export. These technologies will be in great demand in power engineering, aviation, space exploration, nuclear power engineering and in many other economic sectors. And secondly, it’s a project to build a large stock-breeding complex in the Bryansk region.

We are well aware that this year the situation in the agro-industrial complex is quite difficult. Because of the drought, agro-industrial farms in a number of regions suffered heavy losses and are in need of the state’s support .We have already talked about it today. This sort of support is being provided now.

At the same time, we can see that many investors took a decision not to freeze their projects and continue to work for the future and build high-technology, large-scale production facilities, above all, in animal breeding, plant growing and logistics.

And we, of course, should back this approach. And we are going to deal with one of these projects. Here I mean Miratorg Company. A meat cattle-breeding complex for 100 thousand heads is planned to be built. This sort of production facilities have never been built in our country, even, if my memory serves me right, in the Soviet times. This complex would produce up to 48 thousand tons of beef a year.

A total amount of financing is in excess of 24 billion rubles, with Vnesheconombank’s participation share being 18.4 billion rubles.

Let’s get started with our work


Origin: Internal-Portal of the Russian Government


On Decisions by Vnesheconombank’s Supervisory Board


VEB Enters into Capital of a Company Involved in Developing Supercomputers

Moscow, September 30, RIA Novosti. Vnesheconombank made a decision to enter into capital of T-Platforms Company, which is engaged in developing supercomputer technologies and services, Vnesheconombank Chairman Vladimir Dmitriev told journalists about it on Thursday.

VEB’s Supervisory Board spoke in favor of the project aimed at increasing capacities and entering international markets of Russia’s company engaged in developing supercomputers. This involves both software and design of computers. T-Platforms Company is a pretty well-known company both on the international and Russian market, said Mr. Dmitriev at a briefing after Vnesheconombank’s Supervisory Board meeting.

“We are entering into this company’s capital having a clear idea of withdrawing from the capital. This would allow the company to start serious production in Russia and strengthen its positions abroad”, added VEB’s Chairman.

He reminded that the Company participated in developing the Lomonosov supercomputer.

T-Platforms Company is the largest Russian holding involved in high-speed computations. The Group of companies provides a full range of solutions and services in supercomputer technologies and resource-intensive computations. Six systems developed by the Company were included in the rating of the most powerful supercomputers Top500.


Charter Capital of the Northern Caucasus Development Corporation to Amount to 500 million Rubles

MOSCOW, September 30. /PRIME-TASS/. Charter capital of the Northern Caucasus Development Corporation is to amount to 500 million rubles. Vnesheconombank Chairman Vladimir Dmitriev told journalists about it.

He said that Vnesheconombank would act as the Corporation’s founder. He added that he hoped that other investors and banks would be among founders and shareholders of the Corporation as well.

The Corporation’s task will be to monitor investment projects to be implemented on the territory of the Northern Caucasus and to consult regional authorities. The Corporation is expected to start operating as early as in November of 2010.

According to Dmitriev, original 500 million rubles to be invested in the Development Corporation’s charter capital will be enough to finance projects worth up to 9 billion rubles.

He added that earlier it had been said that the total amount of funds needed for implementing investment projects offered to be submitted for consideration by a would-be Development Corporation would be 2-3 trillion rubles. V.Dmitriev said that he was sceptical about most of these projects. In his opinion, even half of them are unlikely to be prepared properly in terms of bank risks and return on investment.


VEB and Sberbank to Invest 300 million rubles each in the Project “Resorts of the Northern Caucasus”

MOSCOW, Sept 30 – RIA Novosti. Vnesheconombank and Sberbank are to invest 300 million rubles each in the project “Resorts of the Northern Caucasus”. The project provides for creating five mountain-ski resorts in the region. Another 6 billion rubles are to be invested by OJSC Special Economic Zones, Vnesheconombank Chairman Vladimir Dmitriev said on Thursday.

“We have agreed with Sberbank that Vnesheconombank and Sberbank would invest 300 million dollars each in this company (OJSC Resorts of the Northern Caucasus), to my best knowledge OJSC Special Economic Zones would invest funds in the amount of 6 billion rubles”, Mr. Dmitriev said at a briefing after VEB’s Supervisory Board meeting where they discussed an issue of VEB’s participation in the project.

According to him, this mechanism would be used to raise private investment for this region to finance infrastructure and other facilities.

OJSC “Resorts of the Northern Caucasus” is to be founded to manage a unified tourist complex, which is being formed in the region now. Under this project the following  mountain ski resorts are to be built: Arkhyz in Karachaevo-Cherkessia, Lago-Naki in Adygeya, Mamison in North Ossetia, Matlas in Dagestan and Elbrus in Kabardino-Balkaria.


VEB to Invest 7 billion Rubles in Float Glass Manufacturing

MOSCOW, Sept 30 – RIA Novosti. Vnesheconombank is to invest more than 7 billion rubles in building a float glass manufacturing factory in Dagestan, said Vnesheconombank Chairman.

“We hope that in the most immediate future after a detailed comprehensive examination of all documents is completed, funds would be made available and the amount of funds is as much as 10 billion rules, with Vnesheconombank’s participation share being more than 7 billion rubles”, said Dmitriev at a briefing on Thursday.

According to him, an appropriate decision was made at VEB’s Supervisory Board meeting on Thursday.

He added that the said glass factory was to be built near Makhachkala and it would be equipped with state-of-the- art equipment. Private investments would amount to about 30%.

Moreover, Dagestan’s authorities are already rendering assistance in allocating a plot of land and in building an infrastructure. Dagestan’s float glass factory’s capacity is to be 600 tons per day. The project provides for building a new high-technology production facility of various types of glass capable of meeting the construction industry’s needs in the Northern Caucasian, Southern, Volga and Central Federal Districts, the Press Office of the Russian Government was quoted as saying.

The glass factory would manufacture top-quality innovative products having unique energy-saving qualities – a 30% percent reduction in thermal losses in a cold period of the year and a 30-45% solar energy reduction in a warm period of the year.

A manufacturing technology is to be provided under a license of the world’s largest manufacturer of new extra-thin glass coatings, PPG Industries (the U.S.).

The project’s implementation is expected to create 300 new jobs and increase tax revenues in the budgets of all levels.


VEB to Buy out Svyaz-Bank’s Problem Loans for an Amount of 80-90 Billion Rubles, to Pay 8-9 Billion Rubles for them

Moscow. September 30. INTERFAX-AFI – Vnesheconombank is to buy out Svyaz-Bank’s (RTS: SVZB) problem loans for an amount of 80-90 billion rubles, Vnesheconombank Chairman Vladimir Dmitriev told journalists about it.

“After buying out this part of debts the balance sheet would be cleaned out of bad loans”, said Dmitriev after VEB’s Supervisory Board meeting. At the same time V Dmitriev said that the appraised value of this portfolio of bad loans was about 8-9 billion rubles. The appraised value between 8 and 9 billion rubles accounts for about 10%”, said Dmitriev.

VEB’s Supervisory Board was informed about the progress of this project’s implementation. V.Dmitriev added that talks with partner-banks on establishing a Postal Bank are still underway. He also added that a partner was most likely to be chosen at least in a month’s time. He explained it by the fact that proposals submitted to VEB by partners on September 15 did not meet all the requirements. VEB’s Chairman added that they discussed with partner-banks such issues as to how they would compensate for the Post of Russia’s loss of incomes because of its refusal to conduct financial transactions and as to how to compensate for VEB’s expenses on reorganizing Svyaz-Bank.


VEB to Choose a Partner for Establishing a Postal Bank on the Basis of Svyaz-Bank at Least in a Month’s Time

MOSCOW, September 30. /PRIME-TASS/. Vnesheconombank is to choose a partner for establishing a Postal Bank on the basis of Svyaz-Bank at least in a month’s time.

According to him, Nomos-Bank or Bank Russian Standard can become VEB’s partner.

V.Dmitriev didn’t specify possible dates of establishing a Postal Bank saying that Svyaz-Bank’s re-branding into a Postal Bank could take place in parallel with talks on searching for a partner.

According to V.Dmitriev, Vnesheconomank expects its potential partners to submit proposals on how and when to compensate the Post of Russia’s loss of incomes because it is to transfer a number of its financial transactions to a Postal Bank. And of course we would like them to disclose their stand on compensating for Vnesheconombank’s expenses on reorganizing Svyaz-Bank through using the Central Bank’s deposit”, said V.Dmitriev.

According to him, they have discussed the progress of implementing decisions on reorganizing Svyaz-Bank at Vnesheconombank’s Supervisory Board meeting. They stated that the measures taken by Vnesheconombank by way of using the Central Bank’s deposit worth 125 billion rubles helped to improve Svyaz-Bank’s financial indicators and secure its sustainable development. “These measures yielded tangible positive results”, noted V.Dmitriev.

Since the beginning of the year, the Bank has increased its loan portfolio by more than 40 percent. The amount of raised funds increased by more than 40 percent. The bank’s equity capital is about 45 billion rubles with capital adequacy ratio being more than 43 percent. This is quite a positive indicator enabling the bank to increase its transactions”, said V.Dmitriev.


RusAl to Repay Credit Worth $4.5 Billion to VEB within a Few Hours

MOSCOW. September 30. INTERFAX-AFI – VEB Chairman Vladimir Dmitriev told journalists that RusAl would repay its credit worth $4.5 billion, which it raised from Vnesheconombank in autumn of 2008 in the nearest time.

“I think it’s a matter of several hours, funds are available to refinance the debt in full’, said Dmitriev.

RusAl is planning to refinance its debt to VEB through raising a credit from Russia’s Sberbank.

Earlier, Sberbank President German Gref said that the credit could be refinanced in September.

V.Dmitriev said that that a key provision of the transaction model agreed upon by the three parties was that under no circumstances the mining and smelting plant’s collateral (Nornickel’s blocking stake owned by RusAl and pledged against VEB’s credit) was not to be alienated from the state.

In early August it became known that that Sberbank approved extending a credit worth $4.5 billion to RusAl for a period of up to December 2013 to refinance its debt to VEB. The sum of the credit approved covers the current debt of the Aluminum Company and capitalized interest.

In November 2008, RusAl raised a credit worth $4.5 billion from VEB to repay a loan obtained in April of 2008 from a syndicate of Western banks to purchase 25% +2 shares of the Norilsk Nickel Mining and Smelting Company. Last autumn VEB rolled over the credit for another year – until October 29, 2010.


Vnesheconombank is ready to explore the possibility of participating in the INTECO project in the Rostov region.

MOSCOW, September 30. /ITAR-TASS/. Upon receiving sufficient documentation on the construction of integrated home-building factories in the Rostov region by the INTECO Company, Vnesheconombank is ready to explore the possibility of participating in this project. Vnesheconombank Chairman Vladimir Dmitriev told journalists about it.

According to him, VEB continues to examine the materials made available.”In order to get divorced one should first get married”, Dmitriev commented on a number of publications in the mass media that wrote that VEB had got divorced with INTECO and would not participate in this project.

“We are examining the project on a routine basis”, said Dmitriev. As soon as we receive enough materials to examine the Rostov project thoroughly we’ll study them and make a decision in accordance with the established procedures”.

VEB’s Supervisory Board approved a proposal for a new remuneration system in the state corporation

Moscow. September 30. INTERFAX-AFI – Vnesheconombank’s  Supervisory Board  approved a proposal for a new remuneration system in the state corporation, VEB Chairman Vladimir Dmitriev told journalists about it.

“We also made a decision to approve a proposal agreed upon with the key financial and economic authorities for a system of financial indicators which would form the basis for VEB’s remuneration system”, he said at a briefing after Vnesheconombank’s Supervisory Board meeting.

Moreover, the Bank’s Supervisory Board approved regulations on a personnel and remuneration committee.

“We are forming a full-fledged management structure in line with the international banking standards. This structure is designed to manage Vnesheconombank as a state corporation”, he added.

V.Dmitriev said that all these decisions had been made without any linkage to a possible transformation of VEB into a joint stock company.

According to him, VEB’s proposals for employee remuneration were made on the basis of indicators of the five largest banks with state participation.


VEB is to provide sponsorship of 360 million rubles to Russia’s national hockey team

MOSCOW, September 30 – RIA Novosti. Vnesheconombank is to provide sponsorship of 360 million rubles in this season to Russia’s national ice-hockey team, Vnesheconombank Chairman told journalists about it.

According to him, the decision was taken on Thursday at the Bank’s Supervisory Board meeting conducted by Russian Prime Minister Vladimir Putin.

“Another decision I’d like to mention is the one on providing sponsorship of 360 million rubles to Russia’s national ice-hockey team. The funds are to be used to support the team in this season as well as to form the basis for our ice squad’s successful performance at the 2014 Winter Olympics”, said Dmitriev.


Vnesheconombank’s Regular Supervisory Board Meeting Held

Vladimir Putin's preliminary remarks:

Ladies and gentlemen,

Today we are holding a regular meeting of the Vnesheconombank Supervisory Board.

When we decided to reorganise VEB in 2007, we envisaged more than just another agency to develop and modernise the national economy.

I want to remind you that implementing international initiatives to develop infrastructure and launch innovations is undoubtedly one of Vnesheconombank's priorities.

I cannot but mention in this regard that a month ago VEB was elected to the Long-Term Investors Club, which brings together the largest and most authoritative government development banks of foreign countries.

I am confident that Vnesheconombank will make a worthy and constructive contribution to its work, and cooperation will benefit both the Russian economy and our partner countries.

A few days ago, VEB placed the first issue of ten-year Eurobonds to total $1.6 billion. As the bank CEO reported, demand greatly exceeds the offering, showing great confidence in the bank and readiness to invest in our country's key significant development projects.

VEB will be floating rouble bonds next and I hope they will be just as popular with investors, and these extra revenues from the domestic and foreign markets will help the bank to considerably increase the funds it generates for Russian industry.

Let us turn now to several items on today's agenda. We will consider the proposals for VEB to take part in lending money to new investment projects.
The comprehensive development of the Angara River's lower reaches in the Krasnoyarsk Territory is the most ambitious of these projects. It is one of the Siberian development strategy top priorities. The project envisages the construction of the Boguchany hydropower plant with a 3 hectowatt capacity, an aluminium plant and other industrial plants, and the necessary transport and social infrastructure.

The project will give practical results even within the year. I mean here the opening of the first unit of the Boguchany hydropower plant, which is scheduled to reach full capacity in 2013, when the Boguchany aluminium plant is also to open.

Vnesheconombank plans to invest 50 billion roubles in their construction. The power plant requires 28.1 billion and the aluminium plant 21.9 billion. Railway and highway construction will begin next.

I want to mention another energy project. VEB will take part in financing the construction of the Adler thermal power plant, part of the Olympic preparations in Sochi. The bank has earmarked 19.5 billion roubles for it, while overall plant construction costs are estimated at 28 billion roubles. Due to open before the end of 2012, the plant will produce 360 megawatts.

Last but not least, the decision has been made to establish a special export credit insurance agency, affiliated to Vnesheconombank. It will become one of the pivotal bodies in the national export promotion system, and will have an emphasis on machinery, equipment and other high-tech commodities and services.

As I know, a wide range of opinions have been advanced here on how to organise the agency's work, and it is good that we have come to an agreement on its principles.

Let us get down to business.


Origin: Internet Portal of the Government of the Russian Federation


On Vnesheconombank’s Supervisory Board Decisions


VEB’s Supervisory Board approved financing a number of projects

Moscow, June 29. INTERFAX     - The Supervisory Board of Vnesheconombank (VEB) at the session on Wednesday approved a number of large-scale projects, Vladimir Dmitriev, Chairman of the Bank, informed the journalists. In particular, according to his words, the financing required to complete the construction of the Boguchansk hydroelectric power station and the aluminium plant was approved.  “After the approval by the Supervisory Board, VEB will start its financial support for these projects’ implementation – overall, about RUB 50 billion will be invested by VEB”, said V. Dmitriev.

He reminded that these projects are implemented adopting a PPP approach, with the state and the territorial administrations undertaking the construction of the infrastructure – both road and social.

“Concerning one of these projects, he added, should the  “Russian Railroads” and the Krasnoyarsk territory be unable to finance the infrastructure, VEB would be prepared to resolve the issue”, said V. Dmitriev.

To quote Mr. Dmitriev, presently all the schemes securing project viability have been developed and well tested with the instruments designed to minimize VEB’s risks put in place.

“As far as the Boguchansk hydro-electric power station and the aluminium plant are concerned, these are the projects where the term of funds allocation actually exceeds 15 years”, said V. Dmitriev.

 In this case, he pointed out, complicated transactions have to be appropriately structured since long-term funds either in rubles or in foreign currency are not presently available. 

Besides, the issue of continuing the financing of Vladivostok airport   was another topic on the Supervisory Board agenda.

“Today the decision has been made to extend additional RUB 900 million to finance this project” said V. Dmitriev.

Also, the parameters of further financing the “Rosa Khutor” company have been agreed. (the construction of a mountain skiing resort in Sochi is underway).

“We continue financing and bring project parameters in conformity with the terms and conditions approved by the Supervisory Board for projects implemented in the run up to the Olympic games, I actually mean the interest rates”, Mr. Dmitriev specified.

Another important project is financing the construction of the Adler heat and power plant.

“The volume of financing amounts to almost RUB 20 billion, the term -  15 years, the rate well within the range of ones applicable for Olympic facilities. The same is true for the ratio of project initiator funds/credit leverage of Vnesheconombank”, said V. Dmitriev.


To quote the Russian Government Chairman Putin, an export credit insurance agency will be established within VEB’s structure.

Moscow, June 29. INTERFAX – V. Putin, the RF prime minister, unveiled plans to establish Vnesheconombank’s subsidiary – an export credit insurance agency.

“A decision has been prepared to create a specialised export credit insurance agency, VEB’s subsidiary, called to become one of the key elements of the exports support system”, said V. Putin at the meeting of VEB Supervisory Board on Wednesday.

He emphasized, the focus will be primarily placed on moving Russian-made machinery and equipment and other high tech goods to foreign markets.

After the session of the Supervisory Board, V. Dmitriev, VEB’s CEO, told the journalists that VEB would extend RUB 30 billion for the agency for its start up operations.

“The Agency is being created as a 100% subsidiary of VEB, and the Bank allocates RUB 30 billion for the Agency to launch its operations. Admittedly, in 2010, no state guarantees will be needed for the implementation of the first projects of the Agency”, he said.


VEB is considering issuing RUB 190 billion 20-year bonds.

Moscow. June 29. INTERFAX-Financial Information Agency – Vnesheconombank (VEB) is considering issuing 10-year bonds amounting to RUB 190 billion  - V. Dmitriev, VEB’s CEO reported at the briefing on Wednesday.

“This program was also approved (by VEB’s Supervisory Board – the notes of Financial Information Agency). These are 10-year bonds amounting to RUB 190 billion”, he said and pointed out that VEB does not intend to place the whole amount all at once.

VEB’s CEO stressed that the first bond issue within the frames of this program is scheduled to be placed in autumn 2010. “The placement could be made already in autumn”, he added.


VEB agreed with “Svyazinvest” proposal related to the sale of 9.8% of shares of “Rostelecom”.

Moscow. July. INTERFAX – Financial Information Agency – VEB agreed with “Svyazinvest” proposal related to the sale of its 9.8% stake in “Rostelecom” (RTC: RTKM),V. Dmitriev, VEB’s CEO,  informed to journalists.

“We have agreed the major parameters of the option agreement with “Rostelecom”. We agreed with “Svyazinvest” that this package will be purchased on a break-even condition”, he said.

V. Dmitriev pointed out that within this transaction two options could be exercised in three and four years. He reiterated that “Svyazinvest” will buy “Rostelecom” shares with due regard for the price at which VEB bought them, that is RUB 230 per  share.


Sberbank refinances RusAl’s loan raised from VEB amounting to USD 4.5 billion – said Dmitriev.

Moscow. July 28. INTERFAX – Financial Information Agency – Sberbank of the Russian Federation refinances the RusAl’s loan amounting to USD 4.5 billion raised from VEB – said V.  Dmitriev, VEB’s CEO, at the briefing on Wednesday.

“Today the parameters of the transaction were agreed. Sberbank undertakes to secure the refinancing”, he said and pointed out that the risks will be equally apportioned between Sberbank and VEB.

V. Dmitriev added that VEB will act as a pledge holder and a guarantor under this loan.

“The pledge (major package of shares of “Nornikel” – notes by Financial Information Agency) is to be equally divided between Sberbank and VEB”, he said.

According to Mr.V. Dmitriev’s judgment, the block of shares of “Nornikel” will remain under state control till the agreement terminates.

As it was reported earlier, “RusAl” requested Sberbank of the Russian Federation to refinance a loan amounting to USD 4.5 billion. German Gref, Sberbank’s  CEO, declared that the transaction on refinancing the loan to “RusAl” will be implemented by Sberbank jointly with VEB.


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