Russian President Vladimir Putin meets Chairman of Vnesheconombank Sergey Gorkov

VP: Sergey Nikolaevich, what are recent developments at the Bank, how are your plans progressing, both at the Bank and on projects?

SG: Despite certain challenges which, as you remember, we faced early last year, the Bank ended the year well. Overall, the liquidity issue was dealt with and our year-end performance was even better than we had expected. Furthermore, we financed some RUB 100 billion worth of projects: a fairly good result for the past year.

At the end of December, the Bank’s new strategy was approved. Its primary focus is on support for such sectors as exports, infrastructure, innovations, NTI, new technologies and new technological production. This year, we expect to step up investments to RUB140 billion annually, which is a 40% increase on the previous year. I believe that the Bank has completed its anti-crisis development stage and is now moving to the stage of a bank for development proper. We look to the future with confidence.

VP: Which projects would you prioritize?

SG: In December we approved several projects including a polymer plant to produce technical textiles in Ivanovo. It’s the first such plant in Russia and a large investment - USD 500 million. Furthermore, it is a fairly large-scale new production line, and for such region as Ivanovo it is perhaps the largest one.

A plant in Torzhok is a large-scale high value-added wood processing enterprise with investments of about RUB 40 billion. It is not just primary processing and production of timber but sophisticated processing.

We are also financing transactions to promote the exports of the Sukhoi Superjet to Europe. A new market, Ireland, would help increase the Sukhoi Superjet exports to Europe. Overall, we have a pipeline of some 100 new deals.

VP: Very good.

Origin: Official site of the Russian President