Interaction with the Agency for Strategic Initiatives

Annual Report 2013
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# Interaction with the Agency for Strategic Initiatives

In 2013, Vnesheconombank continued its cooperation with the autonomous non-commercial organization Agency for Strategic Initiatives (the Agency) with a view to promoting unique projects and initiatives of state dimension delivered in the sphere of SME and social infrastructure.

In the context of investment consulting, Vnesheconombank is finalizing the sets of project documents presented by the Agency, including feasibility analysis, financial models, business plans and investment memorandums.

In the reporting period, Vnesheconombank completed the work on the RUB 2 bn project on Construction of High-Tech Complex to Produce Basalt Plastic Composites in Yakutsk. The project provides for the construction of a manufacturing facilities complex to produce basalt continuous fiber and associated nanostructured basalt plastic materials, reinforcement bars, road mesh, pipes and concrete structures for Russia’s northern and eastern regions. The project would help decrease materials consumption and cut down expenses related to transportation of construction supplies from Russia’s central regions for residential development, industrial construction and road building.

Furthermore, Vnesheconombank conducted an express analysis of information in respect of 81 projects submitted to the Agency’s Expert and/or Supervisory Board for consideration, including 52 investment projects and 29 social and professional projects (education, professional advancement, professional standards development, and certification).

In 2013, the Agency presented to Vnesheconombank 3 investment projects totaling RUB 7.5 bn for consideration of financing capabilities and Vnesheconombank’s participation.

In the year under report, Vnesheconombank provided the Agency with RUB 150 mn worth of the non-for-profit support to promote the Agency’s activities.

## Interaction with the Skolkovo Foundation

Today, modernization and reorientation of Russia’s economy towards innovative development are the state recognized key lines of economic reforms in the Russian Federation.

A number of development institutions were established specifically with a view to boosting innovations through financial, information and infrastructural support to innovative projects at various stages of delivery. Among them are The Foundation for Development of New Technologies Development and Commercialization Centre (Skolkovo Foundation) and the autonomous non-commercial educational institution for higher professional education Skolkovo Institute of Science and Technology with Vnesheconombank as one of the co-founders.

Furthermore, Vnesheconombank established a non-commercial organization The Fund to Operate the Financial Aid Program for Innovation Projects of Skolkovo Foundation (VEB-Innovations Fund). The Fund’s primary objective is to support projects delivered by the Skolkovo Foundation’s residents.

As at year-end 2013, VEB-Innovations approved financing for 17 projects totaling more than RUB 440.0 mn.

The financing of 14 projects is under way with RUB 324.1 mn worth of funds already extended.

The projects financed by the Fund include a project on developing a cancer vaccine and anticancer viral therapy based on the Van Meir viruses and a project on developing and commercializing the results of the studies on the new-generation Manta microchip for AMI in electricity-, gas-, and water supply.

Also in 2013, VEB-Innovations Fund continued its non-financial support in personnel training and retraining for government-owned companies, regional administrations and entrepreneurs based on the facilities of the Higher School of Economics Banking Institute and the Lomonosov Moscow State University Business School, and developed educational guidance materials on venture capital investment.

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