OREANDA-NEWS. November 02, 2011. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, OJSC SME Bank and French Banks Caisse des Depots et Consignations (CDC) and CDC-Enterprises signed in Paris a quadruple Protocol aimed at promoting cooperation in supporting small and medium-sized enterprises (SMEs) and innovations under the Agreement signed earlier between CDC and Vnesheconombank.

From the Russian side the Protocol was signed by Board Member – Vnesheconombank Deputy Chairman Mikhail Kopeikin, OJSC SME Bank Deputy Board Chairman Kirill Semenov and from the French side – by Board Member, CDC Head of International Affairs Laurent Vigier and CDC-Enterprises President Pascal Lagarde.

The Protocol was signed to promote mutual long-term strategic cooperation through sharing business experience and joint use of potential for funding SMEs operating in the innovation sector with the participation of such subsidiary banks as OJSC SME Bank and CDC-Enterprises which are responsible for implementing programs aimed at developing small and medium-sized enterprises. The parties also agreed to explore possibilities for setting up a direct investments fund.

In the course of his working visit to Paris Mikhail Kopeikin met OSEO President Francois Drouin and participated in a meeting of Vnesheconombank-OSEO working group established under the Memorandum of Understanding signed by the parties in June of 2011.

The working group meeting dealt with the practice of using financial instruments in providing support for SMEs, in particular, extending joint guarantees. The parties agreed to cooperate in developing innovative SMEs including those operating within territorial clusters being formed now. OSEO presented digital platforms used to connect SMEs and investors. The parties discussed potential ways of cooperation in this line of activity.

Mikhail Kopeikin also took part in the meeting of the OECD Working Group on Small and Medium-Sized Enterprises where its participants discussed the Draft Bulletin on Financial Support for SMEs for 2011. It was prepared as a result of joint efforts by the OECD project’s participants in the current year. They also agreed upon a subject-matter and periods of doing a relevant research in Russia.

Vnesheconombank plans to join the OECD project in the fourth quarter of 2011.