The State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank) was established on the basis of the Federal Law of the Russian Federation "On Development Bank" by reorganization of Vnesheconombank of the USSR in 2007.
Bank for Development is one of the key instruments of realization of the State economic policy, directed on elimination of infrastructural restrictions of economic growth, increase of efficiency of use of natural resources, development of high technology industries, unlock innovative and productive potential of small and medium business, support of export of industrial products and services.
Vnesheconombank participates in realization of investment projects of priority for development of economy of the country, not receiving sufficient resources from the private sector because of their scale, complexity and duration of payback periods. The Bank provides support for projects both through the provision of loans and credit lines, including in conjunction with financial institutions, and through the provision of guarantees and warranties.
Vnesheconombank finances projects of state importance in the field of infrastructure and in innovation sphere, participates in realization of projects directed on increase of efficiency of use of natural resources, protection of environment and Improvement of environmental conditions. The Bank promotes the development of small and medium enterprises in the country, implementing the State program of financial support to small and medium entrepreneurship, participates in financing investment projects aimed at the modernization of monotowns, supports Russian exporters in world markets, promotes attraction of foreign direct investments to Russia.
Vnesheconombank acts on the basis of the Federal law as of 17 May 2007 No. 82-ФЗ "On Development Bank". The main directions and indicators of its activity are defined by the Memorandum on Financial policy, approved by the Order of the Government of the Russian Federation as of 27 July 2007 No. 1007-р.
In Ukraine, the State corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank) is the main shareholder of PSC Prominvestbank - 99.7726% of shares.
Chairman of the Supervisory Board of Vnesheconombank &nd