On-line supplement
to the Maritime Market magazine

Last modified: 2014-12-01

Company press releases

• Vnesheconombank extends guarantee as a security for NOVATEK company’s obligation
• Vnesheconombank was given first place in the category "High Transparency" of the National Procurement Transparency Rating
• VEB to launch anelectronic system of supporting russian exports
• Vnesheconombank to promote cooperation in innovation development of Saint Petersburg’s industry
• Vnesheconombank to assist in developing the Russian shipbuilding industry

Main activities:

VEB - The Bank for Development operates to enhance competitiveness of the Russian economy, diversify it and stimulate investment activity.

Vnesheconombank is not a commercial bank, its activity is governed by special Law № 82-FZ which came into force on June 4, 2007.

VEB does not compete with commercial credit institutions and participates only in those projects that cannot receive funding from private investors. Under the Memorandum on Financial Policies, Vnesheconombank is to extend credits, guarantees and sureties under projects a payback period of which does not exceed 5 years and a total value is more than 2 billion rubles.

At present, Vnesheconombank Group* has been set up, it is comprised of VEB’s subsidiary institutions whose activities are designed to implement various provisions of the Law “On the Bank for Development”.