The Bank for Development and Foreign Economic Affairs (Vnesheconombank)
is a Russian state corporation.
Vnesheconombank is the sole shareholder of the centre.
activities and legal status are regulated by Federal Law No. 82-FZ dated 17 May 2007, “On the Bank for Development”.
Vnesheconombank’s remit includes fostering competition and diversification in the Russian economy, and promoting investment. The development bank provides investment, foreign trade, insurance and advisory support for projects in and outside Russia. Its objectives include developing infrastructure, innovation, Special Economic Zones, environmental protection, and providing support for exports of Russian goods and services, as well as for SMEs.
Vnesheconombank’s priority investment sectors include:
- nuclear industry, including nuclear power
- heavy, transport, special and power engineering
- metallurgy (production of special steels)
- wood processing
- strategic computer technologies and software
- information and communications technology
- medical technology and pharmaceuticals
Vnesheconombank has been tasked – until otherwise specified by the Russian government – with servicing the debts of the former USSR and the Russian Federation, as well as trust management of Russian citizens’ accumulated pension assets.
The bank is chaired by Vladimir Dmitriev, with Russian Prime Minister Dmitry Medvedev acting as Chairman of the Supervisory Board.