Annual Report 2014

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Vnesheconombank’s SCO IBC- And BRICS-Related Activities

In the current geopolitical environment, a greater focus is placed on increased economic cooperation within the Shanghai Cooperation Organisation (SCO) and BRICS union.


Vnesheconombank participated in all major events organised in the reporting year within the Interbank Consortium of the Shanghai Cooperation Organisation (IBC SCO). These included an informal meeting between CEOs of the SCO IBC member-banks, sessions
of coordinators and senior offices of the SCO IBC member-banks, meetings of the SCO IBC Council.


In September 2014, at the meeting of the SCO IBC Council in Dushanbe (Tajikistan), CEOs
of the SCO IBC member-banks signed An Action Plan on strengthening financial cooperation and promoting regional development. The document sets forth the key business lines and forms of cooperation within the SCO IBC designed to accelerate the work
on implementing joint investment projects and broadening interregional interaction.


In 2014, in order to exchange experience on SME support, Vnesheconombank held a round table discussion "Alternative Development of Central Asia as a New Prospect for Small- and Medium-sized Enterprises in the SCO Region". The participants included representatives
from the IBC SCO member-banks, relevant ministries and agencies, as well as business circles of the SCO member-states.


Furthermore, in 2014 the Bank was actively involved in major events organised
under the BRICS Interbank Cooperation Mechanism, such as the meeting of the expert working group, the annual meeting of heads of partner banks, the BRICS Financial and Business Forums, as well as the BRICS Business Council.


At the BRICS Summit held in Fortaleza (Brazil) in July 2014, the partner banks
under the BRICS Interbank Cooperation Mechanism concluded the Cooperation Agreement
on Innovation. The Agreement is aimed at supporting innovations and high technologies
in the BRICS countries, including the implementation of joint investment projects. The document also provides for experience sharing between the parties in the area
of investment project finance.