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News about Transport Week 2013 participants
State Corporation the Bank for Development and Foreign Economic Affairs (Vnesheconombank) becomes general bank for Transport Week 2013
Transport Week 2013, one of the most significant events in the life of the transport community, will take place from 2 to 7 December 2013 in Moscow. Alongside its annual events, such as the International Forum and Exhibition “Transport of Russia”, the International Congress “Road Traffic Russia”, and the Russian Spartakiad Games of Transport University Students, the TranspArt Russian festival of creativity and the Youth Forum, Transport Week will include a number of conferences devoted to the development of the transport industry.
The State Corporation the Bank for Development and Foreign Economic Affairs (Vnesheconombank), created in 2007 through the reorganisation of the USSR Vnesheconombank pursuant to Federal Law “On the Development Bank”, has confirmed its participation in the capacity of “general bank”.
Development banks are one of the key instruments for the implementation of state economic policy geared towards eliminating infrastructural restrictions on economic growth, increasing the efficiency of natural resource utilisation, developing high-tech industries, unleashing the innovative and productive potential of small and medium business, and supporting exports of industrial products and services.
Vnesheconombank takes on investment projects instrumental for the development of the country’s economy but unmanageable for the private sector because of their large scale, complexity and long payback periods. The bank offers support for projects both by providing credits and loans, including in conjunction with other financial institutions, and by issuing guarantees and sureties.
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