Vnesheconombank runs its investments operations in strict compliance with the Memorandum on Financial Policies that sets out key business lines and investment targets of the Bank. Our strategic goal consists in increasing project financing with respect to the key business lines and priorities set out in the Memorandum, primarily those aiming to modernise the Russian economy. The top priority projects financed by the Bank include:
- projects seeking to upgrade and modernise the existing competitive Russian businesses;
- projects that focus on setting up new operating capacities that will release knowledge-intensive products enjoying high demand in global markets.
We are involved in major investment projects that lack access to the necessary resources offered by commercial financial institutions due to their extensive payback periods, sophistication and capital intensity. These primarily include projects that meet the development priorities set for the Russian national and regional economies, as well as projects that aim to set up infrastructure facilities supporting the operation of special economic zones across Russia.
Vnesheconombank’s investment activities are governed by the following principles set out in the Memorandum on Financial Policies.
No competition against commercial financial institutions
We give preference to investment projects that rule out the Bank’s competition against commercial financial institutions. As a rule, Vnesheconombank enters investment projects if they cannot be financed by commercial financial institutions on terms comparable to those offered by Vnesheconombank.
We run our investment and financial operations on a publicity and transparency basis in line with the best corporate governance practices.
We do not enter non-viable investment projects.
Public private partnership
We give preference to projects that are implemented through private public partnership mechanisms.
We avoid investment projects that fail to meet environmental requirements and environmental efficiency standards.