OREANDA-NEWS. A Financial Forum organized by Vnesheconombank took place on July 8, 2015 in the city of Ufa on theeve of the BRICS and SCO summits. The Forum was included in the list of main events under Russia's BRICS presidency. The list was approved by Russian President Vladimir Putin. The Forum became an important event of the summits' business agenda.

Speaking at the Forum's opening ceremony, Vnesheconombank Chairman, Chairman of the SCI Interbank Consortium Council and the BRICS Interbank Cooperation Mechanism, Vladimir Dmitriev said,"We have to discuss financing institutions' role in promoting the development of regions, supporting sustainable growth; innovations and social stability as well as other topical issues of the world'sfinancial architecture taking into the BRICS countries' increased rolein the world's politics and economy".

In the attendance of the Forum were representatives of major financing institutions and investment companies of the BRICS and SCO countries, the Group of Twenty (G20), representatives of business, the academic community, federal and regional authorities.

In the course of the Forum welcoming addresses were given by First Deputy Prime Minister of the Bashkortostan Republic RustemMardanov, Russian Deputy Finance Minister Sergei Storchak, Chairman of the BRICS Business Council, Presidentof the Russian Chamber of Commerce and Industry Sergei Katyrin.

The Forum's participants discussed potential ways of cooperation with multilateral development institutions, considered a special role of national development banks' in supporting sustainable growth and social stability, shared opinions about best practices of financial interaction.

President of the New Development Bank KundapurVaman Kamath shared his vision of the New Development Bank's activities with the Forum's participants. President of the Brazilian Development Bank (BNDES) Luciano Coutinho spoke about development banks' role in the development of regions and innovations. Board Chairman of Kazakhstan Development Bank BolatZhamishev spoke about the Bank's role in the program of Kazakhstan's industrialization,

President of the Association of Regional Banks of Russia, Deputy of the State Duma, Chairman of the State Duma Committee on Economic Policy, Innovation Development and Entrepreneurship Anatoly Aksakov spoke about new instruments for promoting regional development as exemplified by Russia's business experience.

Among the speakers at the Forum were also President of the China Development BankZheng Zhijie, President of the Development Bank of Southern Africa Mr. JabuMoleketi, Chairman of the Eurasian Development Bank Management Board Sergei Pankin and other executives of major financing institutions of the BRICS and SCO countries.