OREANDA-NEWS. In the course of the Council for Foreign Economic Activity (FEA) under the Russian Economic Development Ministry meeting, Vnesheconombank and the Russian Economic Development Ministry signed an agreement on cooperating in foreign economic activity.

On behalf of Vnesheconombank the agreement was signed by Chairman Vladimir Dmitriev and on behalf of the Ministry – by Economic Development Minister Alexei Ulyukayev.

The parties agreed upon main lines of cooperation in foreign economic activity as well as identified mechanisms for making joint efforts designed to expand the export of Russian products, works, services and technologies.

The agreement is designed to consolidate efforts by the Bank and the Ministry to assist Russian companies on the part of the state in gaining access to foreign countries’ markets and in enhancing their export potential.

The Russian Government appointed VEB as coordinator responsible for providing comprehensive support for exports of Russian products, works and services.

Vnesheconombank carries on increasing its support for exports. For example, its export support portfolio has increased since early 2014, by more than 45% and amounted to 184 billion rubles as of September 1(the Bank’s loan portfolio increased by more than 57% and its guarantee portfolio – by more than46%). At present, the Bank is considering several dozens of large-sized and medium-sized export projects, with VEB’s expected total participation share being more than 400 billion rubles. The geography of Vnesheconombank’s export projects is as follows: CIS countries, South-East Asia, Latin America, North and Central Africa, Central and East Europe.