|BRICS interbank cooperation
||In 2013, partner banks under BRICS’s interbank cooperation mechanism signed the Multilateral Infrastructure Co-financing Agreement for Africa and the Multilateral Agreement on Cooperation and Co Financing for Sustainable Development.
The key objectives of BRICS for the coming period include improvements to the mechanisms of lending in national currencies and cooperation in co-financing of investment projects.
|Interbank Consortium of the Shanghai Cooperation Organisation (SCO IBC)
||In 2013, SCO IBC adopted the Regulations on the Operating Procedure of SCO IBC’s Working Group for Examination of Joint Investment Projects and the Mechanism of Guarantees and Investment Insurance.
The key mid-term objectives of SCO IBC include improving the mechanism of joint project activities, enhancing efficiency of relations with the SCO Business Council and authorised financial institutions of countries that have respective statuses in the SCO and analysing the potential expansion of relations with other economic entities and financial institutions operating in the SCO’s framework.
|EU and Russia Partnership for Modernisation initiative
||In 2013, as part of cooperation with European development institutions on the EU and Russia Partnership for Modernisation initiative, Vnesheconombank signed 2 loan agreements with the European Investment Bank (EIB) for up to EUR 200 mn and up to USD 150 mn. The agreements provide for loans to be issued to Vnesheconombank to implement SME support projects.
|Creation of the Moscow International Financial Centre (MIFC) in Russia
||In July 2013, Vnesheconombank hosted the 5th meeting of the MIFC UK-Russia Joint Liaison Group (JLG). At the meeting the parties discussed current issues related to the following areas of JLG operation: development of the derivatives market; operations with securities; and expansion of public private partnership mechanisms. The parties also discussed alternative justice; improvements to the legal regulatory and adminstrative environment; education, training and certification of professional financial market players; and specifics of branding, marketing and public relations with respect to MIFC creation. As a result of the meeting, the parties agreed to continue their relations in the above areas on a regular basis.
|Association of Development Financing Institutions in Asia and the Pacific (ADFIAP)
||In 2013, Vnesheconombank joined ADFIAP as a full member with a voting right. As such, the Bank will have the right to participate jointly with other members of the Association in the financing of projects in such areas as infrastructure, environment, energy efficiency, social development, microfinancing and financing of SME projects.
The meeting of the General Assembly of ADFIAP held in December 2013 resolved to admit Vnesheconombank to the Board of Directors of ADFIAP.
In 2014, Vnesheconombank will host the 37th Annual Meeting of ADFIAP in Moscow.
|North-East Asia Exim Banks Association
||In 2013, Vnesheconomabnk joined the North-East Asia Exim Banks Association set up within the framework of the Enlarged Tumangang Initiative to support project implementation in Mongolia, South Korea, China and Russia, including to set up transport corridors. During the year, Vnesheconombank participated in the Association’s events that were intended to determine its key goals, objectives and strategic benchmarks, and identify projects for potential joint financing in member countries of the Association.
|International Financial Corporation (IFC)
||In 2013, Vnesheconombank signed a consultancy agreement with IFC under which IFC surveyed the market of energy efficiency projects and prepared draft regulations on a banking product designed to finance energy efficiency projects.
In 2014, as part of this area of relations with IFC, Vnesheconombank is planning to complete the development of a specialised banking product that provides for assessment of energy efficiency of investment projects financed by the Bank, build a portfolio of energy efficiency projects for potential financing by IFC and other investors, and hold focused training events for relevant professionals of the Bank.
Moreover, in 2013, Vnesheconombank and IFC signed a Memorandum of Understanding intended to expand their relations across a range of areas, including potential joint financing of projects in Russia, primarily projects that provide for development of knowledge-intensive green and safe production facilities, waste recycling and waste water treatment. Priority projects also include those aimed at developing the energy sector, enhancing energy efficiency, upgrading infrastructure and raising the quality of public utility services.
||As part of cooperation with the International Bank for Reconstruction and Development (IBRD) that is a member of the World Bank’s Group, Vnesheconombank intensifed its borrowings to finance infrastructure and energy efficiency projects that can be potentially financed with IBRD’s loans. The loans for such projects are planned to be taken in 2014 — 2015.
In 2013, IBRD also took practical steps to provide Vnesheconombank with consultancy services as part of setting up the Regional Innovation Observatory (InnObs). Its launch will allow monitoring and raising awareness about innovation activities in Russian regions, and planning and implementing regional innovation strategies and programmes.
|KfW bank group
||In 2013, Vnesheconombank and KfW signed a Memorandum of Understanding to promote the solid waste disposal sector in Russia based on conservancy and environmental friendliness principles.
Vnesheconombank also continued its work with KfW and the Permanent International Secretariat of the Council of the Baltic Sea States on implementation of the Tripartite Memorandum of Understanding of 2012. The Memorandum provides for financing of two large projects on support for innovation activities of small and medium enterprises, and for environmentally friendly recycling of municipal solid waste in Saint Petersburg.
|Nordic Investment Bank (NIB)
||In 2013, Vnesheconombank signed a loan agreement with NIB for up to EUR 50 mn to finance energy efficiency projects mainly implemented in the North Western Federal District. Vnesheconombank also joined the Russia Energy Efficiency Programme developed by NIB. The programme provides for, among other things, training of Vnesheconombank’s employees on evaluation of energy efficient projects in 2014.